Sonos (SONO) is trading down about 14% in after-hours trading. Not sure what investors were thinking in pushing this recent IPO stock up over $21 prior to the 1st earnings report. My original research was highly negative on the stock.
The speaker company actually slightly beat analyst estimates for FQ3'18. The key was the expectations for declining numbers. A recent IPO isn't going to hold up when revenues are down YoY by nearly 10%.
Disclosure: No position mentioned. Please review the disclaimer page for more details.