Public offerings often have a dual impact on a company's stock. On one hand, they can dilute the value of existing shares, leading to potential short-term negative sentiment among investors. On the other hand, the capital raised can be used for growth initiatives or to reduce debt, which could have a positive long-term impact. The immediate market reaction can vary, but typically, the announcement of a public offering puts downward pressure on the stock price due to the anticipation of share dilution.