Pure Storage Inc (PSTG)

Shares of Pure Storage Inc (PSTG) dropped by 12.18% from $37.93 to $33.31 in the trading on Thursday, November 30, 2023. The reason why PSTG is down today is due to the company's fiscal third-quarter 2024 financial results, which, while strong in revenue and earnings, included weaker-than-expected guidance for the fourth quarter of fiscal 2024. Analysts had anticipated higher revenue than what was projected, causing a correction in the stock's price. Despite still being profitable and growing, Pure Storage's shares are considered expensive, but they may become a value opportunity if growth picks up or the stock continues to decline.