Miss SNV's $3.09 Offering But Think It's A Steal At $3?

Looking back to 5 days ago, Synovus Financial Corp. (NYSE: SNV) priced a 59,870,550 share secondary stock offering at $3.09 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Wednesday, the stock is now 5% higher than the offering price.