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Markets · Investing · Business
Finance
Why Navan Stock Is Plummeting Today
Tech stocks are under pressure today, and Navan is seeing outsized sell-offs.
Navan(NASDAQ: NAVN) stock is getting hit hard in Thursday's trading despite a better-than-expected quarterly report. The company's share price was down 22.4% as of 2:40 p.m. ET. The S&P 500 was down 0.6%, and the Nasdaq Composite was down 0.7%.
Stocks are selling off today as investors reposition in response to macroeconomic risk factors and some concerns about valuations for artificial intelligence (AI) companies. The market also doesn't seem to be satisfied with Navan's latest business updates. The company's sales and earnings results for the second quarter of its 2027 fiscal year, which ended July 31, beat expectations -- but stock is still sinking today.
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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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