Why Richardson Electronics Shares Are Trading Lower By 13%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Richardson Electronics, Ltd. (NASDAQ:RELL) shares dropped by 13.2% in pre-market trading after reporting a Q2 loss of 13 cents per share versus the expected earnings of 1 cent per share, and sales of $44.13 million against the anticipated $52.00 million. Other stocks experienced pre-market movements, with some gaining due to various factors such as Bitcoin price strength, asset sales, and acquisition announcements, while others fell due to patent grants, regulatory updates, and previous day movements.
January 11, 2024 | 12:51 pm
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Richardson Electronics reported a Q2 loss and lower sales than expected, leading to a 13.2% drop in pre-market trading.
The significant drop in Richardson Electronics' share price is directly related to the reported earnings miss and lower sales figures, which are key indicators of the company's performance and are likely to influence investor sentiment negatively in the short term.
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