Align Technology (ALGN.US) shares fell over 20.0% after the maker of Invisalign dental straighteners posted a disappointing earnings report.
-
Adjusted earnings per share came in at $1.36, while analysts anticipated $2.18 a share. Revenue of $890 million came in well below market projections of $953 million.
-
"Our third-quarter results reflect continued macroeconomic uncertainty and weaker consumer confidence, as well as a significant impact from unfavorable foreign exchange rates across all currencies that affect our operations," said Chief Executive Joe Hogan.
Align Technology (ALGN.US) stock is trading 75% below its all-time high at $740.00. Recently the medium-term 50-day SMA (green line) crossed under the long-term 200-day SMA (red line). This has formed a bearish ‘death cross’ formation. If current sentiment prevails, next key support to watch lies around 2020 lows at $130.00. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.