Why Unusual Machines Stock Is Plummeting Today
Unusual Machines (NYSEMKT: UMAC) stock is sinking in Friday's trading. The drone-technologies company's share price was down 7.3% as of 3 p.m. ET. The S 500 was down 1% at that point in the daily trading session, and the Nasdaq Composite was down 1.1%. The stock had been off as much as 11.3% earlier in the day.
Unusual Machines reported its first-quarter earnings after yesterday's market close, posting a wider-than-expected loss and sales that beat the average Wall Street analyst estimate. Even with the big sell-off today, the company's share price is still up roughly 24% this year.
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Source Fool.com
