What's Going On With Autodesk Stock After Hours?
Portfolio Pulse from Adam Eckert
Autodesk Inc (NASDAQ:ADSK) shares fell in after-hours trading following an update on its delayed quarterly report due to an ongoing internal investigation into the company's free cash flow and non-GAAP operating margin practices. The investigation, which began earlier this month, does not currently impact any previously issued financial statements or the information in the company's February earnings release. However, Autodesk will not meet the deadline to file its annual report for the year ended Jan. 31, 2024, and expects to receive a Nasdaq notice for not complying with the timely filing requirement.
April 16, 2024 | 8:50 pm
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NEGATIVE IMPACT
Autodesk's stock fell after announcing delays in its quarterly report filing due to an internal investigation, which might lead to Nasdaq compliance issues.
The drop in Autodesk's stock price in after-hours trading is directly related to the announcement of the ongoing internal investigation and the delay in filing its annual report. This situation raises concerns about regulatory compliance and potential impacts on investor confidence, likely leading to negative short-term price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100