Here's Why Matterport Stock Plunged Following the Q4 Earnings Release
Matterport (NASDAQ: MTTR) stock plummeted 14.3% in Wednesday's after-hours trading session following the spatial-data company's release of its fourth-quarter and full-year 2021 results.
The market's displeasure is attributable to fourth-quarter earnings falling slightly short of the analyst consensus estimate, along with first-quarter and full-year 2022 guidance coming in considerably lighter than the Street had been expecting on both the top and bottom lines. The market looks ahead, so the disappointing outlook was probably the biggest factor in the stock's sell-off.
Global pandemic-driven supply chain issues are the culprit behind the much weaker-than-expected guidance, and also hurt the company's fourth-quarter results.
Source Fool.com
