Neogen Corp (NEOG) experienced a dramatic pre-market plunge of 14.63% on Wednesday, as investors brace for the company's third-quarter earnings report scheduled for release at 7:00 AM. The significant drop in share price suggests growing concern among traders about the potential outcome of the financial results.
According to FactSet Research Systems Inc., analysts are estimating an earnings per share (EPS) of -$0.02 for Neogen's third quarter. This projected loss has likely contributed to the negative sentiment surrounding the stock, as investors may be anticipating disappointing performance figures or guidance from the company.
The pre-market sell-off indicates that some shareholders are opting to reduce their positions ahead of the earnings announcement, possibly to mitigate risk in case of unfavorable results. However, it's important to note that pre-market trading often experiences higher volatility due to lower trading volumes, which can amplify price movements.
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