10x Genomics shares are trading lower after the company reported mixed Q3 financial results and cut its FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
10x Genomics shares declined after the company reported mixed Q3 financial results and lowered its FY24 revenue guidance below estimates.
October 30, 2024 | 12:26 pm
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10x Genomics shares are trading lower due to mixed Q3 financial results and a reduction in FY24 revenue guidance below market expectations.
The company's mixed Q3 results and the downward revision of FY24 revenue guidance are likely to negatively impact investor sentiment, leading to a short-term decline in stock price. The market often reacts negatively to guidance cuts, especially when they fall below estimates.
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