Why Cardinal Infrastructure Group Stock Just Crashed
Cardinal just delivered a big sales beat and a huge increase for full-year revenue guidance. So why are investors dumping the stock?
Overview
Cardinal Infrastructure Group (NASDAQ: CDNL) stock is getting crushed in Tuesday's trading. Shares were down 25.7% as of 11:30 a.m. ET despite relatively little movement for the broader market.
Cardinal published its second-quarter report before the market opened this morning, publishing mixed results that have sent its valuation tumbling. While the company is getting hit with a dramatic valuation pullback, shares are still up roughly 78% year to date.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.