Why Garmin Stock Sank After Earnings Today
Global Positioning System (GPS) technology company Garmin (NYSE: GRMN) reported strong second-quarter earnings today and raised full-year guidance. It posted double-digit revenue gains in all five of its business segments.
Yet Garmin shares plunged as much as 8% on the news. As of 11:37 a.m. ET, the stock rebounded a bit but was still lower by 5.5%. With the company's sound and growing underlying business, the stock drop today may be an opportunity for investors.
Image source: Garmin.
Source Fool.com
