Why At Home Group, Elastic, and Sage Therapeutics Slumped Today
The stock market went through some turbulence on Thursday, with investors getting whipsawed by a variety of developments. The usual overarching issues of trade and global economic conditions gave conflicting signals to market participants, and after a strong 2019 thus far, many traders seem content to tread water during the last month of the year. However, some companies struggled with news that sent their share prices lower. At Home Group (NYSE: HOME), Elastic (NYSE: ESTC), and Sage Therapeutics (NASDAQ: SAGE) were among the worst performers. Here's why they did so poorly.
Shares of At Home Group plunged 36% after the home furnishings retailer posted disappointing results in its third-quarter financial report. At Home saw its revenue rise 19% compared to the year-earlier period, but all of those gains came from the 40 new stores that it's opened over the past year. Comparable-store sales were down 2%, and the company was only able to break even on an adjusted basis. With pressure from tariffs, At Home was more pessimistic about how it will perform over the holiday quarter, and that has shareholders worried about the home retailer's longer-term prospects as well.
Image source: At Home Group.
Source Fool.com
