Comtech Telecommunications Corp.
Company Name | Comtech Telecommunications Corp. |
Stock Symbol | CMTL |
On March 13, 2024, Comtech announced that it would be unable to file its quarterly report for the period ended January 31, 2024 on time and that the Company had terminated its President and CEO, effective immediately.
On this news, Comtech’s stock price fell $1.57, or 27.3%, to close at $4.19 per share on March 13, 2024, thereby injuring investors.
Then, on March 18, 2024, Comtech released its second quarter 2024 financial results, reporting a per share loss of $0.15, missing consensus estimates by $0.35. On this news, Comtech’s stock price fell $1.17, or 25.4%, to close at $3.43 per share on March 19, 2024, thereby injuring investors further.
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