Align Technology (NASDAQ: ALGN) saw its shares plummet 25% this week, according to data from S&P Global Market Intelligence . The stock is down more than 53% so far this year; it had a 52-week high of $737.45 and a low of $270.37. It closed at $360.57 last Friday and hit a weekly low of $304.66 on Thursday. The company makes and sells both Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general dentists. Its two segments are "clear aligner" and "scanners and services."
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The company released its first-quarter earnings report after the market closed on Wednesday; Align's numbers, while mostly up year over year, were all down compared to the fourth quarter, a worrying trend. Investors may also have been spooked when the company withdrew its guidance for the time being.
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Why Align Technology Stock Dropped 25% This Week