Why Cricut Stock Got Cut Down Today
Shares of Cricut (NASDAQ: CRCT) have plummeted today, down by 24% as of 10:50 a.m. EDT, after the company reported second-quarter earnings. The results beat expectations, but management's cautious commentary regarding Cricut's outlook may have rattled investors. Revenue in the second quarter increased 42% to $334.5 million, ahead of the consensus estimate of $317.4 million in sales.