XPEL, Inc.
| Company Name | XPEL, Inc. |
| Stock Symbol | XPEL |
| Class Period | November 08, 2023 to May 02, 2024 |
| Lead Plaintiff Motion Deadline | October 07, 2024 |
On May 2, 2024, XPEL released its first quarter 2024 financial results, reporting only 5% revenue growth year-over-year, disclosing that the Company had been losing customers in the aftermarket channel.
On this news, XPEL’s stock price fell $20.93, or 38.9%, to close at $32.86 per share on May 2, 2024, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) XPEL’s competitors were siphoning an increasingly large segment of the market; (2) as a result, the Company’s revenue growth became increasingly dependent upon existing customers and partners; (3) as a result, the Company’s revenue growth for 2023 and 2024 dwindled; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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