Corsair Crushes Sales Expectations, but Investors Still Hate Growth Stocks
Corsair Gaming (NASDAQ: CRSR) reported first-quarter earnings yesterday, delivering a significant top-line beat. However, the stock still sold off by as much as 6% before closing the day down by 3%. In no uncertain terms, the results utterly crushed sales expectations, and management offered an optimistic forecast for the rest of 2021.
Gaming and esports continue to be unstoppable megatrends, but the broader context for the dip is that growth stocks in the tech sector have fallen out of investor favor in recent months. Even a stellar release wasn't enough to improve investor sentiment, much like last quarter.
Image source: Corsair.
Source Fool.com
