Fox Factory shares plunge following CEO change and lowered annual guidance
FOXF Fox Factory Holding Corp
$17.75 -5.03%
View chart & analysis → - 1Fox Factory (FOXF) shares fell 9.5% in Friday trading following the announcement of a CEO change and lowered annual guidance
- 2Independent director Douglas Grimm has taken over as interim CEO, and third-quarter net revenue is expected to be $336 million to $340 million, falling below previous guidance
- 3The full-year revenue guidance was lowered from $1.42 billion to $1.47 billion to $1.35 billion to $1.38 billion
So what's the key point?
Fox Factory changed its leader and lowered its revenue outlook for the year. Following this news, the stock price dropped 9.5% on Friday.
Source Investing.com · View original ↗
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