Ruckus Wireless (RKUS) stock was sinking on Tuesday, down 25% in afternoon trading after it reported lighter-than-expected first-quarter earnings and a revenue outlook that disappointed investors.
Back in November, Yahoo! Finance profiled the Sunnyvale, Calif.-based wi-fi equipment maker during another rough day for the company: Its IPO. Ruckus, whose logo features a barking canine, touted its debut on its own website that day, declaring, "Who Let the Dogs Out? The New York Stock Exchange, That's Who." Unfortunately, that sentiment was reflected in Ruckus's dog of a debut, as the shares ended the day down 18% from their $15 offer price.
Before Tuesday's rout, however, Ruckus was actually up more than 25% from its IPO price, closing Monday at $19 a share. Still, the stock had sunk 17% year-to-date and 11% over the past three months. And the shares had the prologue to their largest one-day drop ever during after-hours trading Monday, as the company reported earnings per share of 2 centsRead More »from Another Dog of a Day for Ruckus Stock