Why InnovAge Holdings Plummeted Almost 25% Today

InnovAge Holdings (NASDAQ:INNV), a company that specializes in managed care of the elderly, saw its stock wither by 24.9% on Wednesday. This was a reaction to the lackluster quarterly results the company published earlier in the day.

For its Q4 of fiscal 2022, InnovAge managed to grow its revenue by nearly 13% on a year-over-year basis to $171.6 million. That was on the back of a 7% rise in the number of participants for the company's services, which totaled around 6,850 for the quarter.

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Source Fool.com