LLAP - Why Terran Orbital Stock Soared Then Soured
2023-03-21 13:51:51 ET
Satellite manufacturing start-up Terran Orbital (NYSE: LLAP) got off to a great start on Tuesday, its shares rising 10% at the open -- but then things quickly went in the other direction.
Analysts had forecast Terran Orbital would lose $0.20 per share on sales of $31.2 million in its fiscal Q4 2022. In fact, Terran's sales came in above that prediction at $31.9 million, which might explain the shares' initial outperformance. Unfortunately, Terran lost more money than analysts had thought it would lose: $0.23 per share.
And now Terran Orbital shares are down 6.2% as of 1:10 p.m. ET.
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Why Terran Orbital Stock Soared Then Soured