Why Shares of Ubiquiti Fell 14.2% in August
Shares of Ubiquiti (NYSE: UI) -- formerly known as Ubiquiti Networks -- fell 14.2% in the month of August, according to data from S&P Global Market Intelligence. The chief culprit was the networking hardware maker's recent fourth-quarter 2019 earnings report, which, while beating analyst expectations for EPS, missed on revenue. That apparently wasn't enough for investors.
The earnings report also coincided with an increase in tensions between the U.S. and China, which dinged most technology stocks, especially hardware makers like Ubiquiti.
Ubiquiti's Wi-Fi speed test app. Image source: blog.ui.com.
Source Fool.com
