Why Venu Shares Are Plunging Today
Based on nothing more than its preliminary fourth-quarter results released yesterday afternoon, shares of live-entertainment outfit Venu (NYSEMKT: VENU) should be holding their ground. Its estimated Q4 revenue is up from year-ago levels, reflecting growing ticket sales at a handful of its live-concert locales. CEO JW Roth even went as far as to say within the announcement, "I believe the Company will become operationally profitable by the end of 2026."
Yet, as of 12:15 p.m. ET today, Venu stock is down 33%. What gives?
The other news also released after Tuesday's close is the likely culprit.
Source Fool.com
