Rackspace Technology's (RXT) stock experienced a 5.2% pre-market plunge on Friday, following the company's release of its Q4 earnings report. The report revealed a decline in revenue, which is likely the primary factor behind the stock's early morning sell-off.
However, the company also reported strong bookings, indicating potential future growth. This positive news may have tempered the sell-off to some extent, offering investors hope for Rackspace Technology's long-term prospects.
As details of the Q4 earnings unfold and analysts weigh in, the market's reaction to Rackspace Technology's financial performance will become clearer throughout the trading day.
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