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Shares of SmartRent (NYSE: SMRT) were tumbling today after the property tech company missed expectations in its second-quarter earnings report and cut its guidance for the full year.
As a result, the stock was down 32.6% as of 10:59 a.m. ET.
SmartRent, which sells a hardware-agnostic smart hub that pairs with smart home devices like thermostats, doorbells, and cameras to help landlord owners, business owners, and others monitor their properties, posted strong revenue growth in the second quarter, but it missed its own guidance and expectations.