Comment by oytis
16 hours ago
It went down on poor earnings call. Layoffs were probably an attempt to soften the blow. Hard to tell what was the effect, because the two happened simultaneously
16 hours ago
It went down on poor earnings call. Layoffs were probably an attempt to soften the blow. Hard to tell what was the effect, because the two happened simultaneously
What was bad about the earnings? Every metric I am seeing is beating expectations. Genuinely curious
Most likely poor forward guidance.
This is the simplest and almost certainly correct answer.
I’ve seen this at a number of public companies, and is a reason I hate working for them. These decisions are always unbelievably short sighted and ruin companies in the long term.