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3.97
2.93%
-0.12
Why is Markforged Holding Corporation (MKFG) Stock down?
We've noticed a 5.58% decline in Markforged Holding Corporation (MKFG) stock during the 2024-11-26 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!
24 Oct, 2023:
Markforged Holding Corporation (MKFG) dropped by 32.40% from $1.08 to $0.7301 in the trading on Tuesday October 24, 2023. The reason why MKFG stock down today include
- Preliminary Q3 2023 Results: MKFG reported Q3 preliminary revenue of $20M, which is below consensus of $25.49M, and also a fall from its year ago revenue of $25.21M.
- FY outlook cut: Markforged cut its full year revenue outlook, after the company was hurt by unexpected delays in closing deals. The company said it now sees its 2023 revenue to be between $90M- $95M, which is below $101M, the low end of the range the firm had previously said.
- Downgrade: William Blair downgraded MKFG shares to Market Perform citing challenging macroeconomic conditions which are likely to persist into 2024.
5.09%
2.17%
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