Why Shares of Corsair Gaming Tumbled Today
Shares of Corsair Gaming (NASDAQ: CRSR) plunged today after Cowen & Co. analyst Doug Creutz downgraded the company's stock.
Shares of the tech stock fell by as much as 17.2% today and were down 16.5% as of 2:13 p.m. EST.
Creutz downgraded Corsair's stock from outperform to market perform but raised the stock's price target from $32 to $37. The analyst said in an investor note that the valuation of Corsair Gaming's stock doesn't have a "compelling" risk-reward any more. However, he added that the company could still benefit from video game streaming and esports.
Source Fool.com
