QSI - Why Quantum-Si Stock Crashed 35% Today
2023-08-07 13:05:23 ET
Shares of protein sequencing company Quantum-Si (NASDAQ: QSI) collapsed on Monday after the company reported its financial results for Q2 2023, falling 35.2% through 12:10 p.m. ET.
A recent favorite of tech maven Cathie Wood , who has snapped up more than 3.4 million shares over the last month and a half, Wall Street analysts had pegged Quantum-Si stock for a $400,000 revenue quarter, and a $0.20 per share loss. As it turned out, Quantum-Si's GAAP loss for the quarter was only $0.18 per share, an apparent beat. Actual revenue for the quarter, however, was only half what was expected -- $205,000 total.
That's apparently not the number that growth investors wanted to hear.
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Why Quantum-Si Stock Crashed 35% Today