Why Israel-Based Medical Technology Company InMode's Shares Are Tumbling Today
Portfolio Pulse from Lekha Gupta
InMode Ltd's shares have dropped by over 20% following the company's Q3 guidance, which is below estimates, and a reduction in FY23 revenue guidance. The company attributes the lower guidance to an expected economic slowdown impacting platform sales, higher interest rates, tighter leasing approval standards, and bottlenecks in loan processing. Despite these challenges, InMode does not anticipate any interruption to production.
October 12, 2023 | 2:46 pm
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InMode Ltd's shares have dropped significantly due to lower than expected Q3 and FY23 guidance. The company's challenges include an economic slowdown, higher interest rates, and loan processing bottlenecks.
InMode Ltd's shares have dropped due to the company issuing lower than expected Q3 and FY23 guidance. This is a direct result of several challenges the company is facing, including an economic slowdown that is impacting platform sales, higher interest rates, tighter leasing approval standards, and bottlenecks in loan processing. These factors are likely to negatively impact the company's short-term stock price.
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