Why Allbirds Stock Plummeted 36.2% Last Month
Shares of Allbirds (NASDAQ: BIRD) sank 36.2% in February, according to data from S&P Global Market Intelligence. The footwear specialist's share price plummeted after its fourth-quarter report that arrived with guidance that fell short of the market's expectations.
Allbirds published its fourth-quarter results on Feb. 23, posting a loss per share of $0.09 on revenue of $97.2 million in the period. The loss was in line with the market's expectations, but sales actually came in significantly ahead of the average analyst estimate's call for revenue of $92.28 million. Despite the topline beat, the eco-friendly sneaker company's guidance underwhelmed the market, and the earnings release was followed by a slew of downward price-target revisions from analysts.
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Source Fool.com
