Assertio Holdings Inc (ASRT)

Assertio Therapeutics Stock (ASRT) dropped by 43.19% from $2.13 to $1.21 in the trading on Thursday November 9, 2023. The reason why ASRT stock down today is due to the worse-than-expected third-quarter financial results. It is due to the loss of Indocin exclusivity and Rolvedon results below expectations driving significant charges to our net income

• Adjusted earnings per share of 1 cent. That’s well below the 10 cents per share that Wall Street was expecting. It’s also a major drop from the 22 cents per share reported in Q3 2022.
• Revenue of $35.1 million, compare to the $50.43 million that analysts were predicting. However, it is a slight increase over the company’s revenue of $34.3 million in the same period of the year prior.