Why Tuya Stock Is Falling Today
Shares of Tuya (NYSE: TUYA), an Internet-of-Things platform company, fell this morning after the company reported its second-quarter results. Tuya's sales in the second quarter skyrocketed 118% to $84.7 million, which outpaced Wall Street's consensus estimate of $78 million. The company's adjusted net loss per American depositary share of $0.04 matched analysts' consensus estimate for the second quarter.