Why Impinj Shares Plunged Today
Shares of item-tracking technology company (NASDAQ: PI) plunged on Wednesday, down roughly 9.4% as of 3:46 p.m. ET today.
While much of the focus was on the Federal Reserve meeting today, Impinj fell meaningfully more than the average stock. This was likely due to investors digesting the company's Investor Day presentation, held after market close yesterday, in which management laid out its longer-term model. Given the stock's high valuation, it had a high bar to clear, and apparently investors were somewhat disappointed.
It's a bit difficult to know exactly what investors had a problem with in Impinj's presentation. Likely, it was the chief financial officer's longer-term financial model that did the stock in today.
Source Fool.com
Impinj Inc Stock
€148.45
1.810%
Impinj Inc is currently one of the favorites of our community with 15 Buy predictions and no Sell predictions.
As a result the target price of 166 € shows a slightly positive potential of 11.82% compared to the current price of 148.45 € for Impinj Inc.
