Aurora, DoorDash, and more Companies Making Stock Price Movements
In the list of companies making stock price movements, the first company in the list-making a negative run-in Aurora. The data shows that the share prices for the cannabis company have experienced a 3.7% plummet in premarket action. It happened as the company shared its earnings report for the third quarter of 2021. In the report, Aurora reported that it ended up missing out on its revenue target for the third quarter of 2021.
Aurora revealed that for the third quarter of 2021, it was estimated by the analysts that it would generate earnings worth CAD $60.6 million. However, the company has only managed to generate revenue worth CAD $60.1 million. The company has reported that it has also generated 23% more sales than it did in the third quarter of 2020.
The company revealed that the majority of the sales it generated were through its medical cannabis in which it witnessed a significant surge. However, the sales for recreational cannabis witnessed a huge drop. The company revealed that its earnings for recreational cannabis witnessed an almost 44% drop while medical cannabis’s sales surged by 23%. The company revealed that recreational cannabis sales make up 95% of the total sales Aurora generates from Canada.
DoorDash is the next company on the list but the company has reportedly experienced an uptrend in its share prices. The data shows that the share prices for the food delivery company have experienced a surge that is worth 5%. The share prices for the company have been experienced after it announced the acquisition of Wolt. Wolt is one of the major delivery applications based in Finland.
DoorDash has reportedly acquired it after making a huge payment of €7 billion, which translates to $8.1 billion. It is by far the largest and the biggest acquisition that DoorDash has carried out ever since it launched. The company also shared its earnings report for the third quarter of 2021. In the report, DoorDash revealed that it incurred an earnings loss worth 26 cents per share. However, the analysts had predicted that the company would suffer from a loss of 30 cents per share.
The next firm on the list is FuboTV, a famous streaming platform for sports live television. The firm has reportedly experienced a loss in its share prices in the premarket trading. The data from the stock trades shows that the share prices for the company experienced over a 4% drop in the premarket action. Just like the majority of the companies, it is the earnings report for the third quarter that became the main reason for the company losing its stock trading value.
The company reported that it missed out on both, the revenue and earnings loss estimations. For the third quarter, the company revealed it generated revenue worth $156.7 million and earnings loss worth 47 cents per share.