Why Yalla Group Stock Got Crushed Today
Shares of Dubai-based Middle Eastern and North African social networking company Yalla (NYSE: YALA) got destroyed today, tumbling 18.7% through 3 p.m. EDT after reporting less revenue than analysts had predicted for its fiscal second quarter 2021 -- and much less profit.
Heading into Q2, Wall Street had forecast $0.17 per share in profit on sales of $68 million for Yalla. As it turned out, the company earned only $0.10 per share, and sales were $66.6 million.
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Source Fool.com