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Why Wex Stock Crashed and Burned Today

TheMotleyFool

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Shares of Wex (NYSE: WEX) collapsed in afternoon trading Thursday, falling 13.5% through 2:55 p.m. EDT despite the employee benefits and corporate gas card operator reporting better-than-expected sales and earnings for its fiscal third quarter of 2021.

Analysts had forecast that Wex would earn only $2.27 per share this quarter, and on sales of only $475.5 million. In fact, Wex earned $2.45 per share (pro forma), with sales approaching $483 million -- but to no avail. The stock fell anyway.

Image source: Getty Images.

Source Fool.com

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