STEM - Why Stem Stock Was Down on Friday
Energy solutions specialist Stem (NYSE: STEM) deeply underperformed the market on Friday, falling by 18% as of 1 p.m. ET, compared to a 0.9% decline in the S&P 500 . That decline pushed the volatile artificial intelligence stock back into negative territory for the year.
It came as investors digested Stem's fourth-quarter earnings report and its near-term guidance.
Stem published its Q4 results before the market opened Friday. Sales rose to $156 million as its top-line growth accelerated to 194% year over year. Sales for the full year landed at $363 million -- squarely within the updated annual guidance range of $350 million to $425 million that executives had provided in early November.
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Why Stem Stock Was Down on Friday