Velo3D Sees FY24 Revenue $80M-$95M Vs $121.290M Est.
Portfolio Pulse from Benzinga Newsdesk
Velo3D has revised its FY24 revenue guidance to $80M-$95M, significantly lower than the previous estimate of $121.290M.
May 15, 2024 | 8:08 pm
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NEGATIVE IMPACT
Velo3D has revised its FY24 revenue guidance to $80M-$95M, significantly lower than the previous estimate of $121.290M. This downward revision is likely to negatively impact investor sentiment and the stock price in the short term.
The significant downward revision in revenue guidance indicates potential challenges in Velo3D's business operations or market conditions. This is likely to lead to a negative reaction from investors, resulting in a short-term decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100