LiveWire Group's stock (NYSE: LVWR) plummeted by 5.08% on Thursday intraday trading, following the release of the company's full year 2024 financial results that showed a significant decline in revenue.
The electric motorcycle manufacturer reported a 30% year-over-year decrease in revenue to $26.6 million for the full year 2024. While the company managed to narrow its net loss by 14% to $93.9 million, and improved its loss per share from $0.54 to $0.46, the substantial drop in revenue appears to have spooked investors, leading to the stock's plummet.
Despite the challenging financial performance, LiveWire Group remains optimistic about its future prospects and is working to address the warning signs identified by analysts. The company's management team is expected to provide further insights during the upcoming earnings call.
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