Market wanted $63m revenenue and a sequential quarter flat-up quarter. We got $58m revenue and sequential guidance of $49m. The market expeted this based on FB and GOOG results. So if you really think about it, it was a sequential revenue guidance miss of $15m or 20% ($49m guidance vs $64m market expectation). And that, my friends, is why we had a rather predictable AH selloff. 3 things - 1) This will test the AH low of $9.60 tomorrow and 2) the 3 day rule for new buying should be in effect. 3) This stock will be in the penalty box for 2 quarters
Can't say yet if it will test AH lows. I have seen many stocks trade during the day, that never got close to AH highs or lows. A lot will depend on analysts and their ratings tomorrow.
This is still darling to many analysts and if they see a future in MM, they will not punish it too much tomorrow. I see analysts either maintain current price target or dropping to $16 range. That would not be that bad.