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Why Vacasa Stock Plunged Today

TheMotleyFool

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While nearly the whole stock market was up today on lower-than-expected inflation, Vacasa (NASDAQ: VCSA) was a rare red dot on market screens after the vacation rental management company missed the mark in its third-quarter earnings report. Earnings were lower than expected, and its guidance indicated that momentum may be fading.

As of 1:02 p.m. ET, the stock was down 39.8%.

Vacasa actually beat top-line estimates in the quarter, posting revenue of $412.2 million, up 25% from the previous year and ahead of the consensus at $391.7 million.

Source Fool.com

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