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55.55
1.18%
+0.65
Why is Tecnoglass Inc (TGLS) Stock down?
We've noticed a 5.01% decline in Tecnoglass Inc (TGLS) stock during the 2024-03-04 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!
06 Nov, 2023:
Tecnoglass Inc Stock (TGLS) dropped by 12.05% from $34.26 to $30.13 in the trading on Monday November 6, 2023. The reason why TGLS stock down today is due to the underwhelming forward guidance. Tecnoglass announced strong third-quarter results, however, the company reduced its full-year 2023 outlook for revenue of $835 - $848M, down from $830 - $855M previously. Coupled with expectations for unfavorable noncash foreign currency exchange, as well as a higher mix of installation revenue in Q4, the company also lowered its outlook for 2023 adjusted EBITDA.
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