Momo Stock Slips Again on Earnings Day
Shares of Momo (NASDAQ: MOMO) plummeted 19% on Tuesday after posting poorly received financial results. Stagnant sequential growth in premium users and uninspiring guidance for the new quarter tripped up the Chinese social video speedster. It may seem like par for the course for Momo investors. The stock also took a 20% hit the day it posted problematic second-quarter results three months earlier.
Momo has now taken a hit on earnings day in four of the past five quarters, but surprisingly enough, the stock is still beating the market in 2017, with a 36% gain year to date through Tuesday's close. The annual gain may not come as much of a consolation to recent investors, as the stock has fallen sharply since peaking in mid-August and is now trading at levels last seen in February.
Image source: Momo.
Source: Fool.com
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