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Why Smartsheet Stock Dropped Like a Rock Today

Why Smartsheet Stock Dropped Like a Rock Today

Shares of work management software company Smartsheet (NYSE: SMAR) dropped on Thursday after the company provided its latest quarterly financial report. As of 10:50 a.m. ET, Smartsheet stock was down a whopping 21%. After the market closed yesterday, Smartsheet reported results for its fiscal first quarter of 2024 and the market's negative reaction is admittedly confusing on the surface.