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Why Stem Shares Dropped Today

TheMotleyFool

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Last week, smart battery storage solutions company Stem (NYSE: STEM) announced it achieved record revenue in its third quarter that grew 334% versus the year-ago period. That led the company to affirm its prior guidance for full-year 2021 revenue of $147 million. Investors jumped into the stock perhaps because of how fast the company is accelerating growth. Q3 sales more than doubled sequentially from just the prior quarter. But today, the company disappointed those same investors with an announcement that it was raising debt. That sent the shares down as much as 13.2% before the stock finally closed with a drop of 9.9%.

Image source: Getty Images.

Source Fool.com

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