Why Align Technology Stock Is Crashing Today
Shares of Align Technology (NASDAQ: ALGN) were crashing 24.6% lower as of 11:34 a.m. ET on Thursday. The big sell-off came after the orthodontic medical device company announced its third-quarter results following the market close on Wednesday.
This drop continued a downward slide in Align's share price that began in September. Prior to that point, the healthcare stock had been sizzling hot with a year-to-date gain of nearly 75%.
Align reported Q3 revenue of $960.2 million, up 7.8% year over year. However, this result fell far short of the consensus Wall Street revenue estimate of $996.5 million.
Source Fool.com
