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In the stock trading market, the first company to experience a drop in share prices is Square. Square has reportedly faced a 3.7% drop in share prices in the premarket action. The company experienced a drop after sharing its earnings report for the third quarter of 2021. In the earnings report, Square has reported that it has generated earnings worth 37 cents per share. It is promising for the company that it has generated earnings that match the estimations made by the analysts.
While Square managed to generate earnings that matched the analysts’ estimations, it missed out on the revenue estimations set by the analysts for the third quarter of 2021. The company has reported that compared to the third quarter of 2020, its third quarter of 2021 has generated 60% high profits.
The next company on the list is Lions Gate Entertainment that has recorded a significant surge in share prices. In the premarket action, the share prices for the movie and tv studio have surged by 15.1%. Lions Gate Entertainment announced that it was considering selling its premium cable channel “Starz”. The company has announced that it is hoping that it will be getting many offers from many investors in order to acquire the company’s shares.
Next in line is the second-largest cryptocurrency exchange in the world “Coinbase” which has observed a huge loss in its share prices. The share prices for Coinbase have experienced a 13% drop in the share prices in the premarket trading. The reason behind the company’s loss in share prices was due to the earnings report it recently shared for the third quarter of 2021.
In the earnings report, Coinbase revealed that the revenue is generated in the third quarter of 2021 was $1.31 billion. However, the company ended up falling behind the estimations that were set by the analysts for revenue in the particular quarter. The exchange has announced that compared to the second quarter of 2021, its number of active users has declined. As a result, the number of transactions processed by the users has come down to 7.4 million. However, transactions processed by active users in the third quarter of 2021 are higher than the transactions in the same quarter of 2020.
Then it is Poshmark that has experienced an almost 27% drop in its share prices in the premarket action. According to reports, it was after sharing the earnings report for the third quarter of 2021 that the social marketplace ended up facing the loss. The company revealed in the earnings report that the earnings loss it faced was 9 cents per share. However, the analysts had predicted that the earnings loss would be 7 cents per share. Even the revenue that the analysts predicted ($82.7 million) was not met as the company could only achieve $79.7 million.
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