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Why Covetrus Stock Plunged 40% Today

TheMotleyFool

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Shares of Covetrus (NASDAQ: CVET) lost 40% of their value on Tuesday, following the release of the company's second-quarter results.

Covetrus' net sales fell 1% year over year $1 billion. That was below Wall Street's estimates for sales of $1.1 billion.

The veterinary technology company also posted a net loss of $10 million, or $0.09 per share. Analysts had been expecting Covetrus to report earnings of $0.17 per share.

Source Fool.com

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