ATER - Why Aterian Stock Plunged on Monday
Aterian (formerly known as Mohawk Group Holdings) (NASDAQ: ATER) reported second-quarter earnings results that came in well below the consensus analyst estimate. The stock was down 38.7% at 10:53 a.m. EDT on Monday.
The stock climbed 192% in 2020 as demand for its products, such as kitchen appliances and other household goods, accelerated.
Aterian is facing new obstacles in 2021, with tough year-over-year growth comparisons and rising shipping costs that are pressuring profitability. The stock is currently down 71% year to date, trailing the NASDAQ Composite with its return of 15.2%.
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Why Aterian Stock Plunged on Monday