Why Corsair Gaming Stock Dropped 12% in July
Shares of Corsair Gaming (NASDAQ: CRSR) fell 12.3% last month, according to data provided by S&P Global Market Intelligence. While there wasn't any company-specific news to send the stock down, it started to fall in late June after a Goldman Sachs analyst downgraded Logitech International (NASDAQ: LOGI), one of Corsair's top peers in the industry, to neutral from a buy rating.
This week, Corsair reported strong sales growth and reiterated its full-year outlook, but the stock fell sharply after adjusted earnings per share came in below estimates.
The shares are currently down 25% year to date, underperforming both the Nasdaq Composite index and Logitech.
Source Fool.com
