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. 

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Source Fool.com