Why Proterra Stock Is Plunging Today
Shares of Proterra (NASDAQ: PTRA), an electric bus maker and electric vehicle (EV) tech company, were plummeting today after the company reported fourth-quarter results that missed both top- and bottom-line consensus estimates. Additionally, the company issued weak guidance for the full year.
As a result, Proterra's stock tumbled 47% as of 12:04 p.m. ET
Proterra reported revenue of $80 million in the fourth quarter, which was up 17% from the year-ago quarter but missed analysts' consensus estimate of $86.8 million. Additionally, Proterra's loss of $0.50 per share in the quarter was worse than the company's loss of $0.43 in the year-ago quarter and far below Wall Street's consensus estimate of a loss of $0.25 per share.
Source Fool.com
