Rubicon Technologies Inc (RBT)

Shares of Rubicon Technologies (RBT) dropped by 18.10% from $2.10 to $1.72 in the trading on Thursday, November 9, 2023. The reason why RBT is down today is due to the company's disclosure of its financial results for the third quarter of 2023, which included a decrease in revenue by 7.4% to $171.3 million primarily due to a downturn in commodity prices, particularly old corrugated cardboard. Despite this revenue decrease, the company reported a third consecutive quarter of record Gross Profit, which more than doubled from the same period last year, reaching approximately $13.4 million. The market's reaction to the financial results likely contributed to the sharp drop in RBT shares.

Shares of Rubicon Technologies (RBT) dropped by 5.21% from $3.65 to $3.46 in the trading on Friday, September 15, 2023. The reason why RBT is down today is due to announcement that the company's board of directors approved a reverse stock split of Rubicon's Class A common stock at a ratio of 1-for-8. This reverse stock split is expected to become effective on September 26, 2023, and the company's Common Stock will begin trading on a split-adjusted basis on September 27, 2023. Such corporate actions can often lead to fluctuations in the stock price, and the market's reaction likely contributed to the decrease in RBT shares.