Akamai Technologies, Inc. AKAM shares are trading lower by $8.40 (12 percent) at $62.72 in Wednesday's session. After the close Tuesday, the company reported a Q4 EPS beat of $0.04 along with $11.2 million beat for revenues.
However, investors were rattled by comments made during its conference call following the report. As a result, the issue opened much lower and has continued in that direction with momentum.
The ensuing decline took the issue all the way to $61.54, but rebounded back into the upper $62.00 handle. That marked the lowest level for the issue since it bottomed on October 25 at $58.44 and ended that session at $59.07.
The following day, it soared to $67.70 following a better-than-expected Q3 report.
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