Advertisement
Australia markets open in 9 hours 1 minute
  • ALL ORDS

    7,937.90
    +35.90 (+0.45%)
     
  • AUD/USD

    0.6477
    +0.0026 (+0.40%)
     
  • ASX 200

    7,683.50
    +34.30 (+0.45%)
     
  • OIL

    82.33
    +0.43 (+0.53%)
     
  • GOLD

    2,331.40
    -15.00 (-0.64%)
     
  • Bitcoin AUD

    103,390.16
    +1,429.55 (+1.40%)
     
  • CMC Crypto 200

    1,438.44
    +23.68 (+1.67%)
     

Why On24 Stock Just Crashed 29%

Why On24 Stock Just Crashed 29%

Shares of recent IPO and would-be Zoom Technologies rival On24 (NYSE: ONTF) crashed Wednesday, falling 29% as of noon EDT despite the company reporting an apparent earnings beat last night. Analysts had forecast that On24 would only break even in the fiscal second quarter, with sales of $51 million. As it turned out, the company did more than $52 million in business and earned (pro forma) profits of $0.04 per share.