Why Ammo Stock Continues to Slide After Earnings
Call it a lesson in why earnings -- not just revenue -- still matter.
On Tuesday, shares of ammunition manufacturer Ammo (NASDAQ: POWW) tumbled nearly 4% after the company -- which had rocketed earlier this year on the back of multiple press releases boasting of booming sales -- admitted that despite all those sales, it still couldn't earn a profit. In Wednesday trading, the Ammo sell-off is accelerating, and shares are down 8.7% as of 10:45 a.m. EST, twice as bad as yesterday.
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Source Fool.com
