Why Revolve Group Stock Tanked on Thursday
Shares of Revolve Group (NYSE: RVLV) are falling today, down by 14.5% as of 11:34 a.m. ET following the company's second-quarter earnings release.
Revolve reported an increase in revenue and higher gross margin, but business conditions worsened in July, causing a sharp deceleration in revenue growth.
Investors have been on pins and needles, punishing any company that shows signs of weakness. Revolve's revenue soared 27% versus the year-ago period, but management said that growth slowed to 10% at the start of the third quarter, which didn't sit well with market participants.
Source Fool.com
