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Why CalAmp Stock Plunged Today

TheMotleyFool

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Why CalAmp Stock Plunged TodayPhoto, wide shot, wide-angle lens, Gas company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/01083d82-021d-4573-8c40-0e836a0771d6.png

Shares of CalAmp (NASDAQ: CAMP) have plunged today, down by 11% as of 1:45 p.m. EDT, after novel coronavirus fears gripped the market and a steep drop in oil prices added to the chaos. The company recently warned that it would miss its guidance due to the public health crisis.

Tech companies have been disproportionately impacted by the COVID-19 outbreak because many have supply chains and other operations concentrated in China, which is where the virus originated. Last week, CalAmp updated its outlook for its fiscal fourth quarter, warning that it would miss its original guidance due to the coronavirus.

Image source: Getty Images.

Source Fool.com

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