HEAR - Why Turtle Beach Stock Crashed on Tuesday
Shares of Turtle Beach (NASDAQ: HEAR) were trading down 33% as of 12:58 p.m. ET on Tuesday after the company delivered disappointing second-quarter earnings results.
Turtle Beach has had a rough outing over the past year. The company reported a sales decline of 48% year over year -- the fifth consecutive quarter of declining sales.
On top of weak sales, management also updated investors on efforts to secure a sale of the company. In short, no third parties are interested. The current weak market conditions and macroeconomic headwinds have dampened interest from potential suitors. That news may have further pressured the stock's performance today.
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Why Turtle Beach Stock Crashed on Tuesday