Why KULR Technology Group Stock Flopped on Friday
A vivid red number on the bottom line and a revenue miss were the factors pushing down KULR Technology Group (NYSEMKT: KULR) stock on the last trading day of the week. The company's share price eroded by more than 13% across the session, comparing most unfavorably to the S&P 500's (SNPINDEX: ^GSPC) rise of 0.7%.
For its first quarter of this year, KULR managed to grow its revenue by 40% to $2.45 million. Going in quite the opposite direction was the company's bottom-line result; its net loss deepened considerably, to $18.8 million ($0.07 per share) from the year-ago deficit of slightly over $5 million.
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Source Fool.com
