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Why Is Romeo Power Stock Down Today?

TheMotleyFool

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Shares of Romeo Power (NYSE: RMO) were down sharply again on Thursday afternoon. The company's stock has been sliding since it reported on Monday that its second-quarter revenue fell short of Wall Street's estimates.

As of 1:45 p.m. EDT, Romeo Power's stock was down about 8.4% from Wednesday's closing price, and down about 33.2% since the end of last week.

There were two things in Romeo Power's Monday earnings report that might have together triggered the sell-off. First, it was a big miss: Wall Street analysts polled by Thomson Reuters had expected revenue of $2.37 million, but Romeo generated just $926,000. Second, the company just replaced its CEO -- in fact, Monday was new CEO Susan Brennan's first day on the job.

Source Fool.com

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