Why LifeStance Health Group Fell 24% on Tuesday
One of the newer healthcare companies on the stock market, LifeStance Health Group (NASDAQ: LFST), wasn't a favorite of investors on Tuesday: Its stock price cratered by more than 24% in response to its latest earnings report.
LifeStance, which concentrates on mental health solutions, actually posted mixed results for Q3. It earned $173.8 million in revenue for a healthy 70% year-over-year increase. On the flip side of that coin, though, its net loss deepened considerably to $120.5 million ($0.35 per share) compared to its Q3 2020 net loss of $3.3 million.
The growth of that red ink reflected LifeStance's soaring operating expenses: In Q2, they more than tripled year over year.
Source Fool.com
