Fortinet's (NASDAQ: FTNT) stock tumbled 13% on March 7 after the cybersecurity company announced it would suspend its operations in Russia in response to its military invasion of Ukraine. In a statement, Fortinet's founder and CEO Ken Xie said, "We regret the impact this will have on our employees, partners, and customers who are adversely impacted by the actions of the Russian government."
That announcement wasn't surprising since many other American companies have also recently suspended their operations in Russia. So did investors overreact to the news and prematurely flee from Fortinet, which posted a strong top- and bottom-line earnings beat just over a month ago?
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Source Fool.com