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Why AMMO Stock Fell This Week

TheMotleyFool

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Ammunition maker AMMO (NASDAQ: POWW) provided an upbeat estimate for first-quarter revenue this week, but it wasn't enough to offset negative news on firearms sales. As a result the company was down 9.9% for the week as of 1 p.m. EDT Thursday.

AMMO shares have shot higher in 2021, up nearly 150% on the year as investors have taken notice of its explosive growth. The company did little this week to stall that momentum, announcing it expects revenue of $44 million in its fiscal first quarter. That would be a substantial boost from the last quarter, when AMMO generated $24.2 million in sales and is also above the single analyst estimate for $41.3 million in revenue.

Image source: Getty Images.

Source Fool.com

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