UK markets closed
  • FTSE 100

    7,234.03
    +26.32 (+0.37%)
     
  • FTSE 250

    22,984.24
    +123.85 (+0.54%)
     
  • AIM

    1,229.10
    +4.02 (+0.33%)
     
  • GBP/EUR

    1.1848
    +0.0063 (+0.53%)
     
  • GBP/USD

    1.3751
    +0.0074 (+0.54%)
     
  • BTC-GBP

    44,569.55
    -440.76 (-0.98%)
     
  • CMC Crypto 200

    1,464.06
    +57.32 (+4.07%)
     
  • S&P 500

    4,471.37
    +33.11 (+0.75%)
     
  • DOW

    35,294.76
    +382.20 (+1.09%)
     
  • CRUDE OIL

    82.66
    +1.35 (+1.66%)
     
  • GOLD FUTURES

    1,768.10
    -29.80 (-1.66%)
     
  • NIKKEI 225

    29,068.63
    +517.70 (+1.81%)
     
  • HANG SENG

    25,330.96
    +368.37 (+1.48%)
     
  • DAX

    15,587.36
    +124.64 (+0.81%)
     
  • CAC 40

    6,727.52
    +42.31 (+0.63%)
     

Why Tuya Is Plunging Even Lower Today

·1-min read
Why Tuya Is Plunging Even Lower Today
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Shares of Tuya (NYSE: TUYA) were tumbling 11% in morning trading Thursday after the Internet-of-Things platform reported second-quarter earnings. While revenue outpaced analyst forecasts and net losses were in line, sales guidance of between $83 million and $86 million widely missed consensus expectations of $110 million. Tuya went public in March at $21 per share, above the expected $17 to $20 per share range, but after rising almost 20% on its first day of trading, the stock today is going for less than half its offer price.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting