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Why Poshmark Stock Is Down Big Today

TheMotleyFool

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Shares of online apparel-resale platform Poshmark (NASDAQ: POSH) were trading lower on Wednesday. The company reported its second-quarter results after the U.S. markets closed Tuesday, and while its numbers were good, its guidance was not quite what retail investors had expected.

As of 12:45 p.m. EDT, Poshmark's shares were down about 14.6% from Tuesday's closing price.

Poshmark's second-quarter results were pretty decent, or at least better than Wall Street had expected. The company reported a loss of $0.04 per share on revenue of $81.8 million, a double beat; analysts polled by Thomson Reuters had expected a loss of $0.07 per share on revenue of $80.29 million.

Source Fool.com

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