Momo Inc (ADR) MOMO shares are trading lower by $8.00, or 18 percent, at $37.08 in Tuesday's session.
The Street isn't impressed with the Chinese mobile-based social networking platform's Q2 EPS beat of 4 cents and revenue beat of $26 million.
As a result, Momo is back in the area of June's closing price of $36.94. Its run through July didn't end until the stock reached $46.69 on August 8 and posted its all-time closing high the previous day at $45.99.
Ahead of the report, Momo tapered off on Monday to close at $45.08. Its much lower opening print of $40.37 is only 6 cents from its high for the day at $40.43. So far, the follow-though on the downside has taken the stock to $36.24 and it's attempting to get back and remain in the $37.00 handle. The current low coincides with its June 28 low of $36.11.
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