Can Momo Stock Bounce Back After Last Week's 30% Drop?
It was a rough week for Momo (NASDAQ: MOMO) investors. Shares of the company behind the fast-growing social entertainment platform plummeted 29.8%, making it the third biggest loser among Nasdaq-listed stocks.
Momo posted monster growth in its third quarter, but its guidance left plenty to be desired. A few analysts rushed to the falling stock's defense, but at least one Wall Street pro responded to the problematic outlook by slashing his price target on the shares. Momo has now fallen the day after posting quarterly results in four of the past five quarters, with double-digit percentage slides in back-to-back periods.
Source: Fool.com