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Markets · Investing · Business
Finance
Why HealthEquity Stock Sank This Week
Sales and earnings beats in fiscal Q2 weren't enough to satisfy investors.
HealthEquity(NASDAQ: HQY) stock got hit with a substantial sell-off this week even though the company delivered sales and earnings beats with its quarterly report. The healthcare financial services specialist's share price closed out the week down 8.6% and had been off as much as 12% from its level at the end of the previous week's market close.
HealthEquity released results for the second quarter of its current fiscal year before the market opened on Thursday. The company's fiscal Q2 period wrapped on July 31, and results for the period came in ahead of the average Wall Street targets. Despite strong performance in the quarter, the stock sold off this week.
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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.
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