In a day where the Nasdaq Composite surged over 100 points, the fortunes of Ermenegildo Zegna N.V. took a sharp turn.
Despite a remarkable 107.8% year-over-year growth, with a €135.7 million profit for FY 2023 and an improved profit margin from 4.4% to 7.1%, the company’s shares plummeted by 14% to $11.99.
Joining the downtrend were various big stocks:
- DoubleDown Interactive Co., Ltd. experienced a 12.5% decline to $8.91.
- Altice USA, Inc. suffered a significant 9.9% loss, closing at $2.3169 after a downgrade by Wells Fargo and a revised price target.
- MYT Netherlands Parent B.V. saw a 7.7% drop to $3.3850.
- Aerovate Therapeutics, Inc. dipped by 7.7%, closing at $26.85.
- Olaplex Holdings, Inc. slid by 7.1% to $1.63, with an analyst maintaining a Market Perform rating and a $2 price target.
- Critical Metals Corp. lost 7% to close at $11.93.
- Aurora Cannabis Inc. witnessed a 6.4% decrease to $6.61.
- Qurate Retail, Inc. declined by 5.8% to $1.0450.
- Trump Media & Technology Group Corp. was down 5.5% to $43.62.
- Herbalife Ltd. ended 5.5% lower at $7.22 ahead of its upcoming first quarter 2024 financial results release on May 1, 2024.
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