Why Soho House (SHCO) Shares Are Getting Obliterated Today
Stock Story
Published Mar 15, 2024 12:28
Updated Mar 15, 2024 12:49
Why Soho House (SHCO) Shares Are Getting Obliterated Today
Stock Story -
What Happened:Shares of social club operator Soho House (NYSE:SHCO) fell 9.9% in the afternoon session after the company reported fourth quarter results that missed analysts' revenue and EPS expectations. Guidance was also weak as full-year revenue and adjusted EBITDA projections missed, and its number of members fell short of Wall Street's estimates. Overall, this was a weaker quarter for Soho House.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Soho House? Find out by reading the original article on StockStory.
What is the market telling us:Soho House's shares are somewhat volatile and over the last year have had 42 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Soho House is down 22.2% since the beginning of the year, and at $5.20 per share it is trading 36.6% below its 52-week high of $8.19 from November 2023. Investors who bought $1,000 worth of Soho House's shares at the IPO in July 2021 would now be looking at an investment worth $413.11.
Get The App
Written By: Stock Story
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.