Why Inseego Stock Tumbled Today
Shares of Inseego (NASDAQ: INSG), the maker of mobile hot spots and other internet connectivity devices, were pulling back today after the company reported second-quarter earnings that seemed to underwhelm. It also announced a new CFO, Craig Foster. As of 12:41 a.m. EDT on Thursday, the stock was down 19%.
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Inseego has attracted a lot of investor attention during the pandemic as sales of its mobile hot spots have surged and the company is seen as a popular 5G play as anticipation builds for the rollout of the new telecom technology. That enthusiasm pushed the stock up 101% year to date before last night's earnings report, and with high expectations baked in, the results seemed to miss the mark.
Source Fool.com
