Why The Real Good Food Company Stock Dropped Today
Portfolio Pulse from Ryan Gustafson
The Real Good Food Company, Inc. (NASDAQ:RGF) shares dropped after the company reported preliminary Q3 results and issued full-year and Q4 revenue guidance below estimates. The company also announced the commencement of a public offering. Full-year 2023 revenue is expected to be between $185 million and $194 million, versus the $202.35 million estimate. Shares of RGF were down 26.1% at $2.29.
October 11, 2023 | 8:11 pm
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The Real Good Food Company's stock dropped due to lower than expected Q3 results and revenue guidance. The company also announced a public offering which could dilute existing shares.
The company's lower than expected Q3 results and revenue guidance for full-year 2023 and Q4 2023 indicate potential financial struggles, which negatively impacts investor sentiment. Additionally, the announcement of a public offering could lead to dilution of existing shares, further driving down the stock price.
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