What's Going On With Siyata Mobile Shares Friday?
Portfolio Pulse from Dylan Berman
Siyata Mobile, Inc. (NASDAQ:SYTA) reported disappointing Q2 2024 earnings with sales of $1.89 million, missing estimates of $3.00 million, and a net loss of $12.9 million. CEO Marc Seelenfreund cited timing issues with customer orders but expects a strong Q3 due to a $7 million backlog. The stock fell 22.2% to $1.86.
August 16, 2024 | 4:40 pm
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Siyata Mobile reported Q2 2024 earnings with sales of $1.89 million, missing estimates of $3.00 million, and a net loss of $12.9 million. The stock fell 22.2% to $1.86. CEO Marc Seelenfreund expects a strong Q3 due to a $7 million backlog.
The significant miss on earnings and the large net loss have led to a sharp decline in the stock price. Although the CEO expects a strong Q3, the immediate market reaction is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100