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Why Gilat Satellite Networks Stock Crashed Today

TheMotleyFool

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Why Gilat Satellite Networks Stock Crashed Today: https://g.foolcdn.com/editorial/images/869792/red-and-white-rocket-launches-and-crashes.jpg

Gilat Satellite Networks (NASDAQ: GILT) stock tripled over the past year, just one of several so-called "space stocks" that benefited from investor hype ahead of the forthcoming SpaceX IPO.

But not all space stocks are as good as SpaceX.

Gilat shares crashed to Earth this morning, falling 22.5% through 10:35 a.m. ET after beating on earnings but missing on sales last night. Analysts had forecast Gilat to earn $0.11 per share on sales of $114.4 million. Gilat actually earned $0.18 per share -- but could muster up only $110.5 million in sales.

Source Fool.com