After shares climbed to a 52-week high on record volume two weeks ago, shares of WidePoint (WYY) — a leading provider of technology-based management solutions — continued their ascent the following day by soaring as much as 30% in pre-market trading after the company raised its full-year 2020 revenue forecast.
The company now expects revenue in the range of $185 million to $195 million, with the midpoint range ($190 million) representing an increase of 88% year-over-year, which easily surpasses analyst estimates of $132 million for 2020.
However, that momentum was quickly short-lived due to