Why First Advantage Stock Tumbled on Tuesday

First Advantage's (NASDAQ: FA) majority shareholder is going into the minority, and investors didn't seem too pleased by this development. The employment verification services provider announced a significant stock sale by that investor, and market players reacted by trading First Advantage's equity down more than 10% on Tuesday.That majority shareholder is tech-focused private equity firm Silver Lake Group, which is selling 12.5 million First Advantage shares in a public secondary stock offering priced at $22.20 per share. Additionally, Silver Lake will distribute up to 4.2 million shares to its limited partners on or about the offering date, expected tomorrow (Wednesday, Aug. 12). Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool