Why CuriosityStream Stock Plummeted Today
Shares of CuriosityStream (NASDAQ: CURI) have plummeted today, down by 14% as of 1:40 p.m. EDT, after getting a double downgrade from Wall Street. BofA Securities cut its rating on the stock from buy to underperform while sticking by its price target of $14.
The rating change is largely due to the fact that CuriosityStream shares had nearly doubled over the course of a month, raising potential valuation concerns and achieving the $14 price target that BofA had previously set. Much of that rally was driven by the fact that the technology company, which specializes in streaming educational content, was named as a preliminary addition to the Russell 3000, one of the most high-profile market indexes for small cap stocks.
Image source: CuriosityStream.
Source Fool.com
