Here's Why CalAmp Stock Tanked in September
Shares of CalAmp (NASDAQ: CAMP) tumbled 12% in September, according to data provided by S&P Global Market Intelligence, after the company reported its second-quarter results toward the end of the month.
CalAmp's steep share price drop during the month was far greater than the 4% loss the S&P 500 suffered and came in stark contrast to the broader gains many tech stocks have experienced over the past few months.
CalAmp reported revenue of $83.5 million in the second quarter, down 10.4% from the year-ago quarter. The company's earnings also fell over the same period, with the company reporting an adjusted loss per share of $0.03, compared to earnings of $0.14 per share in the second quarter of 2019.
Source Fool.com
