Treace Medical Concepts shares are trading lower after the company reported worse-than-expected Q3 financial results and lowered FY23 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Treace Medical Concepts' stock is trading lower following the release of their Q3 financial results, which fell short of expectations. Additionally, the company has revised its FY23 revenue guidance downward, setting it below analyst estimates.
November 10, 2023 | 4:03 pm
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Treace Medical Concepts reported lower than expected Q3 results and reduced its FY23 revenue guidance, which is likely to negatively impact investor sentiment and the stock price in the short term.
The stock is trading lower as a direct response to the negative earnings report and lowered revenue guidance. This typically results in a loss of investor confidence and a decrease in stock price as market expectations adjust to the new information.
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