The Top Stock Losers for Thursday, May 9, 2019


 
 
07:45 05/09/2019











Some of the worst performing stocks of the day included:



Green Dot Corporation GDOT 



Shares of GDOT fell 26.4%, or $16.71 on the day after the company cut its guidance.



As the company ramps up its technology and marketing investments to help with its BaaS platform, it cut its full-year adjusted EBITDA forecast to between $255 million and $261 million – down from prior guidance of between $315 million an $321 million.  It also lowered its adjusted EPS to a new range of $2.82 and $2.91 from $3.59 to $3.67. 



Jumia Technologies JMIA 



JMIA pulled back 18.8%, or $6.22 on the day after taking a hit on a new short-seller report from Citron Research.  They note the stock is a scam.  “Jumia is the worst abuse of the IPO system since the Chinese RTO fraud boom almost a decade ago. Worse than being “the most expensive” US listed ecommerce company, Jumia reported financials show us a stagnant business that has burned through $1 billion and has moved the sucker’s game to the US Markets,” they note.



The Trade Desk Inc. TTD 



Shares of TTD plummeted 14.5%, or $32.19 on the day after only providing in-line second quarter revenue guidance.  That was after beating top and bottom line numbers.



First-quarter revenue increased 41% year over year to $121 million, which beat expectations for $117 million.  Non-GAAP EPS increased from $0.34 in the first quarter of 2018 to $0.49, beating forecasts for $0.25.  'In Q1, we continued to develop closer relationships with the biggest brands in the world,' said The Trade Desk CEO Jeff Green in the company's first-quarter earnings release. 'Over half of the companies in the S&P 500 have run campaigns on our platform. We are executing well.'



Unfortunately, investors were spooked once the company provided Q2 revenue guidance of only $154 million – in-line with expectations. 



The pullback may have been a severe overreaction.  Keep an eye on it.








This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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