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52.89
3.13%
-1.71
Why is Pure Storage Inc (PSTG) Stock down?
We've noticed a 5.00% decline in Pure Storage Inc (PSTG) stock during the 2024-11-27 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
30 Nov, 2023:
Shares of Pure Storage Inc (PSTG) dropped by 12.18% from $37.93 to $33.31 in the trading on Thursday, November 30, 2023. The reason why PSTG is down today is due to the company's fiscal third-quarter 2024 financial results, which, while strong in revenue and earnings, included weaker-than-expected guidance for the fourth quarter of fiscal 2024. Analysts had anticipated higher revenue than what was projected, causing a correction in the stock's price. Despite still being profitable and growing, Pure Storage's shares are considered expensive, but they may become a value opportunity if growth picks up or the stock continues to decline.
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