Why Just Energy Group Dropped 16% Today
Shares of energy solutions company Just Energy Group (NYSE: JE) sank 16% today as of 2:00 p.m. EST. The company reported its quarterly results this morning after a tumultuous fiscal 2021 second quarter.
During the period ending Sept. 30, 2020, Just Energy completed a recapitalization plan that led to a single-day doubling of shares as well as a subsequent 30% drop once the plan was officially completed.
Today, the company announced its base earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 33% compared to the prior-year period.
Source Fool.com