Tableau Software Smoked After Q2 Beat On Monster Volume

em>Joel Elconin is the co-host of

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Tableau Software

shares are trading sharply lower by $27 at $100 in Wednesday's session. Its Q2 earnings beat for EPS ($0.07 vs. Est. $0.04) and for revenues ($149.9M vs. Est. $141.04M) has failed to impress investors. In fact. the issue is being taken out to the woodshed. After being battered in premarket trading that induced at sharply lower opening ($105.79 vs. Tuesday's close of $122.77), it managed a brief rally to $106.25 before another wave of sellers flooded the issue. The ensuing decline has taken the issue to $97.67 before rebounding back over $100. That marks the lowest level for the issue since it bottomed in May at $95.79. Today's route is taking place on much higher than average volume. So far it has traded 5.8M shares compared to its 20 day average of 966K with less than fours remaining.