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Why Cryoport Stock Just Dropped 16%

TheMotleyFool

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Shares of Cryoport (NASDAQ: CYRX), a producer of temperature-controlled packaging, tumbled in early morning trading on Friday, and were down 16% as of 10:25 a.m. EST.

In an earnings pre-announcement released after the close of trading on Thursday, Cryoport told investors that its sales for fiscal Q4 2019, although up strongly year over year at $9.2 million, will probably fall short of analyst expectations for sales of $10.4 million.

Image source: Getty Images.

Source Fool.com

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