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Why On24 Stock Just Crashed 29%

TheMotleyFool

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Shares of recent IPO and would-be Zoom Technologies rival On24 (NYSE: ONTF) crashed Wednesday, falling 29% as of noon EDT despite the company reporting an apparent earnings beat last night.

Analysts had forecast that On24 would only break even in the fiscal second quarter, with sales of $51 million. As it turned out, the company did more than $52 million in business and earned (pro forma) profits of $0.04 per share.

Image source: Getty Images.

Source Fool.com

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