Why Inseego Stock Fell Hard Today
The share price of Inseego (NASDAQ: INSG), a provider of wireless broadband access equipment, plummeted today after the company reported worse-than-expected results for both its top and bottom lines.
The tech stock was down by a staggering 24% as of 3:10 p.m. ET.
Inseego's non-GAAP (adjusted) loss per share of $0.11 in the quarter was slightly worse than analysts' consensus estimate of a loss of $0.10 per share. Investors were also likely very unhappy to see that the company's net loss of $25.2 million for the first quarter had widened from a loss of $16.9 million in the year-ago quarter.
Source Fool.com
