Why Corsair Gaming Stock Is Too Cheap to Ignore
When a company posts a decline in sales and profits, but the stock still goes up, it's usually a good sign that the stock is undervalued. That's what happened to Corsair Gaming (NASDAQ: CRSR) after its third-quarter earnings report on Tuesday.
Supply chain issues pinched Corsair Gaming's sales, causing revenue to drop 14% year over year. Profits also plunged to a meager $1.8 million, or $0.02 per share, compared to $36 million in the same period last year.
Apparently, investors were expecting much worse numbers, as the stock price jumped a few percentage points on the news. Let's look at the state of Corsair's business and why the stock could be a steal at the current price level.
Source Fool.com
