BALLYS CORPORATION (BALY) stock plummeted 23.53% in Wednesday's intraday trading session, following the company's disappointing Q4 sales results that fell short of market expectations.
For the fourth quarter, BALY reported sales of $580.4 million, missing the analyst consensus estimate of $599.14 million by 3.13%. The sales figure also marked a 5.11% decrease compared to the same period last year.
The significant sales miss and year-over-year decline in revenue likely spooked investors, resulting in the sharp sell-off in BALY shares. The company's Q4 earnings report, which was released after the market close, will provide further insights into the factors behind the lackluster sales performance.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.