Why Liquidity Services Stock Plunged Today

Shares of Liquidity Services (NASDAQ: LQDT) were down 16.5% as of 12:15 p.m. EST Wednesday after the surplus-marketplace specialist announced weaker-than-expected fiscal fourth-quarter 2017 results.

Liquidity Services' revenue fell 22% year over year to $61.4 million, while gross merchandise volume declined 8.9% to $145 million. That translated to an adjusted net loss of $10.3 million, or $0.33 per diluted share. By contrast, investors were looking for a narrower net loss of $0.24 per share on a more modest high-teens percent decline in revenue.

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Source: Fool.com