Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Here's the Real Reason Sonos Stock Got Crushed Today

TheMotleyFool

0 0

Here's the Real Reason Sonos Stock Got Crushed Today

Shares of Sonos (NASDAQ: SONO) are getting crushed on Thursday, after reporting results for its fiscal third quarter of 2020. Revenue was down and the company reported a big net loss. As of 11:30 a.m. EDT, the stock was down 15%.

But I don't believe Sonos' results are the biggest culprit for its tanking stock price today. Rather, a prominent analyst released a bullish report for Sonos on June 22, and the stock had surged around 45% over that short time period. Therefore, it appears many investors simply bought in with little conviction and are now quick to bail.