Why Impinj Stock Is Crashing Today

Shares of radio-frequency identification-solutions-provider Impinj (NASDAQ: PI) tumbled on Friday following the company's second-quarter report. While Impinj beat analyst estimates across the board, the company slashed its full-year guidance due to delays among large-end customers. The stock was down about 23.5% by 12:30 p.m. EDT.

Impinj reported second-quarter revenue of $34.1 million, up 31% year over year and about $0.6 million above the average analyst estimate. "We continue seeing strong indicators of growing adoption of RAIN and the Impinj platform across multiple verticals, including retail, healthcare and logistics," said Impinj co-founder and CEO Chris Diorio.

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Source: Fool.com