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Here's Why MasterCraft Boat Holdings Stock Sank Today

TheMotleyFool

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Here's Why MasterCraft Boat Holdings Stock Sank Today

Shares of MasterCraft Boat Holdings (NASDAQ: MCFT) sank on Wednesday after the company reported results for the fourth quarter of its fiscal 2020. Prior to the earnings release, the stock was trading at 52-week highs, reflecting unduly high investor optimism. But shares were down 20% as of noon EDT today.

MasterCraft beat analyst expectations for Q4, but expectations were low. Revenue was way down, and the company recorded a net loss for the year.