Lavoro Limited's stock plummeted 8.33% in Monday's intraday trading session, falling victim to a broad selloff after the company reported disappointing first-quarter financial results.

The company reported quarterly losses of $0.40 per share, widely missing analyst consensus estimates of a $0.28 per share loss. This marked a significant 471.43% increase in losses compared to the same period last year. Additionally, Lavoro's quarterly sales of $370.2 million fell short of analyst expectations of $377.35 million, declining 23.37% year-over-year.

The larger-than-expected losses and sales miss sent shockwaves through the market, with investors swiftly punishing the stock. Lavoro's deteriorating financial performance raised concerns about its ability to navigate the current business environment, leading to a broad selloff in its shares.