Why CS Disco Stock Fell Hard Today
Shares of the cloud-based legal software company CS Disco (NYSE: LAW) plummeted today after the company (which also goes by the name DISCO) reported its second-quarter financial results. While DISCO beat analysts' consensus top- and bottom-line estimates, the company's management slashed its guidance for 2022.
The tech stock plunged 53.6% as of 3:53 p.m. ET.
DISCO reported a non-GAAP loss per share of $0.23 in the quarter, which was worse than the company's loss of $0.16 in the year-ago quarter but ahead of Wall Street's average estimate of a loss of $0.27.
Source Fool.com
