Why Is Marketing Solutions Provider Global-E Online's Stock Diving Today?
Portfolio Pulse from Lekha Gupta
Global-E Online Ltd. (NASDAQ:GLBE) shares are trading lower after the company reported second-quarter FY24 results and revised its outlook. Despite beating sales and earnings estimates, the company lowered its FY24 revenue guidance, causing the stock to drop by 8.33%. Investors can gain exposure to the stock via Amplify BlueStar Israel Technology ETF (NYSE:ITEQ) and iShares MSCI Israel ETF (NYSE:EIS).
August 14, 2024 | 2:11 pm
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NEGATIVE IMPACT
iShares MSCI Israel ETF (NYSE:EIS) might experience some impact due to its exposure to Global-E Online Ltd. (NASDAQ:GLBE), which has seen a notable decline in its stock price.
EIS holds GLBE, which has dropped significantly. This could negatively impact the ETF's performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Global-E Online Ltd. (NASDAQ:GLBE) shares are down 8.33% after reporting Q2 FY24 results. Despite beating sales and earnings estimates, the company lowered its FY24 revenue guidance, which has negatively impacted investor sentiment.
The company reported strong Q2 results but revised its FY24 revenue guidance downwards, which is likely causing the stock to drop as investors react to the lowered future expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Amplify BlueStar Israel Technology ETF (NYSE:ITEQ) may see some impact due to its exposure to Global-E Online Ltd. (NASDAQ:GLBE), which has seen a significant drop in its stock price.
ITEQ holds GLBE, which has dropped significantly. This could negatively impact the ETF's performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50