Why Nano Nuclear Energy Stock Just Crashed
Nano Nuclear Energy (NASDAQ: NNE) stock, a start-up manufacturer of small modular (nuclear) power reactors, tumbled 9% through 1:45 p.m. ET Friday after issuing its Q2 "business update" last night -- just don't call it an "earnings report" -- because Nano isn't earning anything yet!
Image source: Getty Images.
The curious thing about investors' reaction to this not-yet-earnings report is that Nano actually seems to have performed better than expected. Nano, you see, is a pre-revenue company, and until it starts generating revenue, all one can reasonably expect it to report is losses. Indeed, according to Yahoo! Finance data, most analysts expected the company to lose $0.21 per share in the quarter. In fact, Nano says it lost only $0.18 per share.
Source Fool.com
