Why Shares of CalAmp Are Plummeting Today

Failing to deliver a holiday surprise to investors, CalAmp (NASDAQ: CAMP) reported third-quarter earnings for fiscal 2022 after the market closed yesterday, missing both top- and bottom-line estimates. But that's not the only thing that's motivating investors to exit their positions today, Wall Street's bearish take on the stock is providing more momentum for the stock's slide.

While markets are rising today, CalAmp is headed in the opposite direction. As of 10:53 a.m. ET, shares of the machine-to-machine communications specialist are down 27%.

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Source Fool.com