|Company Name||FMC Corporation|
On July 10, 2023, before market hours, FMC disclosed that it was cutting its revenue guidance for the second quarter and the 2023 fiscal year due to “substantially lower-than-expected volumes due to an abrupt and significant reduction in inventory by channel partners.”
On this news, FMC’s stock price fell $11.62, or 11.1%, to close at $92.63 per share on July 10, 2023, thereby injuring investors.
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