Why Logitech Shares Are Down Premarket Monday
Portfolio Pulse from Lekha Gupta
Logitech International S.A. (NASDAQ:LOGI) shares dropped in premarket trading after announcing CFO Charles 'Chuck' Boynton's departure in May to pursue another career. The company will name his successor later and confirmed its FY24 outlook for sales and adjusted operating income, despite potential headwinds and uncertainties affecting net sales in FY25.
March 18, 2024 | 11:41 am
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Logitech's premarket share price fell following the announcement of CFO Charles 'Chuck' Boynton's departure and the confirmation of its FY24 financial outlook.
The departure of a CFO can create uncertainty among investors regarding the company's financial leadership and future direction, leading to a negative short-term impact on the stock price. Additionally, while the company confirmed its FY24 outlook, the mention of potential headwinds and uncertainties for FY25 may also contribute to investor caution.
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