IGO Ltd's stock price plummeted 5.05% during intraday trading on Thursday, reflecting negative investor sentiment following the release of the company's quarterly financial results.

The sharp decline came after IGO reported sales revenue of AU$82.4 million for the second quarter ended December 31, 2025, representing a significant decrease from the AU$131.8 million recorded in the same quarter a year earlier. This substantial year-over-year revenue drop of approximately 37.5% appears to be the primary driver behind the stock's downward movement.

While the company reported increased production in some areas, including lithium hydroxide and nickel operations, the dramatic decline in quarterly sales revenue likely raised concerns among investors about the company's near-term financial performance and market conditions affecting its core mining operations.