Here's Why Katapult Holdings Stock Plummeted Today
Shares of Katapult Holdings (NASDAQ: KPLT) got crushed on Tuesday following the company's second-quarter earnings report. The stock ended today down roughly 56.4%, according to data from S&P Global Market Intelligence.
Katapult published its second-quarter report before the market opened on Tuesday, and investors had a lot to chew on. The company posted a net loss of $8.1 million, swinging from a profit of $5.1 million in the prior-year period. Adjusted net income for the period was $1.5 million, down roughly 70% year over year. The company also announced that it was withdrawing detailed earnings guidance for the remainder of the year in light of new uncertainty.
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Source Fool.com
