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Why SMART Global Stock Plummeted Today

TheMotleyFool

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Shares of SMART Global Holdings (NASDAQ: SGH), a computer component company, tumbled today after the company reported its first-quarter 2021 results and announced a 2-for-1 share split.

The tech stock was down by 16.4% as of 12:45 p.m. ET.

SMART Global reported first-quarter fiscal 2022 sales of $470 million, up 61% from the year-ago quarter. That figure easily outpaced analysts' consensus revenue estimate of $460 million for the quarter.

Source Fool.com

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