Here’s Why Align Technology Dropped 12.4% in August
After falling more than 23% in July, Align Technology (NASDAQ: ALGN) slipped another 12.4% in August, according to data provided by S&P Global Market Intelligence. Investors are clearly still worried about decelerating growth at the orthodontic-device specialist.
On its second-quarter earnings call, Align Technology guided for third-quarter revenue growth of 16% to 19% compared to the year-ago quarter. That's a substantial slowdown from the 22.5% growth in the second quarter, which was a deceleration from the 25.6% year-over-year growth seen in the first quarter.
Management blamed slowdowns in China and in its young-adult category in North America for the moderating growth.
Source Fool.com
