Align Technology, Inc. (ALGN)

Shares of Align Tecnology (ALGN) dropped by 24.88% from $253.69 to $190.56 in the trading on Thursday, October 26, 2023. The reasons why ALGN stock down include:

• Disappointing Third-Quarter Results: Align reported third-quarter revenue of $960.2 million, falling short of the Wall Street consensus estimate of $996.5 million. Additionally, while the company's non-GAAP earnings showed a substantial 31.3% year-over-year increase, they came in below analysts' expectations at $2.14 per share, compared to an estimated $2.27 per share.
• Guidance Reduction: Align lowered its full-year 2023 revenue guidance to a range of $3.83 billion to $3.85 billion, down from its previous projection of $3.97 billion to $3.99 billion. The company cited a more challenging environment in the fourth quarter, particularly with fewer orthodontic case starts due to macroeconomic factors affecting doctors and patients.

Align Technology, Inc. (ALGN) stock fell 2.56% today related to the announcement of releasing its second quarter financial results on Wednesday, July 26, 2023. Investors hold out hopes that the report will be good enough to invest in.

https://finance.yahoo.com/news/align-technology-announce-second-quarter-123000886.html