Stock Track | Pagaya Technologies Plummets 26.77% Intraday on Weak Revenue Outlook and Q4 Miss
Stock Track
Feb 09
Pagaya Technologies Ltd. (NASDAQ: PGY) experienced a significant intraday plummet of 26.77% during Monday's trading session, following the release of its fourth-quarter financial results and forward guidance.
The financial technology company reported fourth-quarter revenue that fell short of analyst expectations. While adjusted earnings per share surpassed estimates, the revenue miss and, more critically, a weaker-than-anticipated outlook for the current quarter and full year drove the sharp decline in share price. The company's first-quarter revenue guidance of $315 million to $335 million came in well below the consensus analyst forecast, contributing to investor concerns about near-term growth prospects.
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