Why Upwork Stock Is Plummeting Today
Upwork's second-quarter report has increased concerns about the company's future.
Overview
Upwork (NASDAQ: UPWK) stock is losing ground on Tuesday following the release of the company's second-quarter results. The company's share price was down 12.2% as of 12:30 p.m. ET. At the same point in the daily session, the S&P 500 and the Nasdaq Composite had fallen 0.2% and 0.4%, respectively.
After the market closed yesterday, Upwork published its Q2 numbers. Results in the period were mixed, with earnings coming in below expectations despite a sales beat. Making matters worse, the gig-economy marketplace company lowered its full-year guidance.
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Details
Source
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.