FSM - Why Shares of Fortuna Silver Mines Fell 28% in November
Through the first 10 days of November, things seemed to be going well for investors of Fortuna Silver Mines (NYSE: FSM) , as the stock climbed more than 8%. But the good times didn't last, and the stock ended up 28% lower at the end of the month than where it began at the start, according to data from S&P Global Market Intelligence .
Shares started their downward spiral on Nov. 12 in response to the company reporting its third-quarter 2021 earnings -- including a concerning update regarding operations at the San Jose asset -- after the market closed on the previous day. That wasn't the only source of investors' consternation, though. A dour sentiment toward the stock emanating from Wall Street, as well as the declining price of silver, provided additional catalysts for the stock's sell-off throughout the month.
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Why Shares of Fortuna Silver Mines Fell 28% in November