No Bounce For Nutanix After Friday's Swoon

Nutanix Inc NTNX shares are trading lower by $1.13 (5 percent) at $21.87 in Monday's session. That comes on top of Friday's $8 swoon from Thursday's closing price ($31.12) to $23.00.

Despite announcing a Q2 beat after last Thursday's close, the Street took notice of the company's lower Q3 guidance and wanted no part of it.

After a higher open, Nutanix's stock attempted to rebound, but the rally was halted at $23.87 as more sellers came into the issue. The pace of the decline accelerated once it breached Friday's low and its former all-time low of $22.52.

So far, the issue has fallen to $21.07, but is attempting to re-enter the $22.00 handle.