Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Proterra Stock Is Plunging Today

TheMotleyFool

0 0

Why Proterra Stock Is Plunging Today: https://g.foolcdn.com/editorial/images/724897/gettyimages-1125578452.jpg

Shares of Proterra (NASDAQ: PTRA), an electric bus maker and electric vehicle (EV) tech company, were plummeting today after the company reported fourth-quarter results that missed both top- and bottom-line consensus estimates. Additionally, the company issued weak guidance for the full year.

As a result, Proterra's stock tumbled 47% as of 12:04 p.m. ET

Proterra reported revenue of $80 million in the fourth quarter, which was up 17% from the year-ago quarter but missed analysts' consensus estimate of $86.8 million. Additionally, Proterra's loss of $0.50 per share in the quarter was worse than the company's loss of $0.43 in the year-ago quarter and far below Wall Street's consensus estimate of a loss of $0.25 per share.

Source Fool.com

Like: 0

PTRA

Share