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Why is Beam Global (BEEM) Stock down?

We've noticed a 9.86% decline in Beam Global (BEEM) stock during the 2024-05-21 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
20 Oct, 2023:

Beam Global Stock (BEEM) dropped by 6.81% from $6.75 to $6.29 in the trading on Friday October 20, 2023. The reason why BEEM stock down today is due to the announcement of layoff plan. Beam Therapeutics Inc. (BEAM) is reducing its workforce by 20% to extend its cash runway and focus on its most promising clinical programs. The company expects to record a charge of about $6.6 million in the fourth quarter, primarily related to severance costs. Beam will prioritize its sickle cell disease and alpha-1 antitrypsin deficiency programs.

30 Mar, 2023:

Beam Global Stock (BEEM) dropped by 13.4% from $16.70 to $14.47 in the trading on Thursday March 30, 2023. The reason why BEEM stock down today is due to financial results for the year ended December 31, 2022. Beam reported mixed results with a miss on GAAP EPS but a beat on revenue.

  • Q4 GAAP EPS of -$0.77, missing the consensus by $0.38.
  • Revenue of $7.9M, up 126.4% year-over-year, beating the consensus by $0.37M.
  • Record Q4 revenues of $7.9 million, 126% year over year increase
  • Record annual orders of $76 million, 548% year over year increase
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