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. 

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Source Fool.com