Why Garrett Motion Stock Is Down Today

Auto component manufacturer Garrett Motion (GTX -10.76%) announced a big secondary offering, meaning more shares on the market. Investors are responding by lowering the value of the shares already out there, sending Garrett down 10% as of 10:45 a.m. ET. Insiders getting outGarrett is the former auto division of Honeywell International, and today is a maker of turbochargers for internal combustion engine vehicles as well as components for hybrid and battery electric vehicles.The company took a trip through b ...