Why Shapeways Holdings Shares Are Trading Lower By Around 20%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
Portfolio Pulse from Lisa Levin
Shapeways Holdings, Inc. (SHPW) shares dropped by approximately 20% following the release of disappointing financial results, with an adjusted loss per share and quarterly sales both missing market expectations. Other stocks experienced significant movement in Wednesday's mid-day session, with various companies reporting financial results, FDA designations, and potential acquisition interest.
November 15, 2023 | 7:04 pm
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Shapeways Holdings reported a larger-than-expected adjusted loss of $1.36 per share compared to the anticipated 95 cents per share, and sales of $8.37 million versus the expected $8.75 million, causing the stock to fall 20.8% to $2.36.
The significant drop in SHPW's stock price is directly related to the company's earnings miss. Investors typically react negatively to financial results that fall short of expectations, which can lead to a sharp decline in stock price.
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