Cardlytics, Inc.
Company Name | Cardlytics, Inc. |
Stock Symbol | CDLX |
On August 7, 2024, Cardlytics released its second quarter 2024 financial results, missing consensus estimates due to “slower-than-anticipated billings growth coupled with higher consumer incentives.” Specifically, the Company stated that it had encountered “delivery issues” and “fast-paced changes to [its] technology platform” which led to “unpredictable delivery of the advertiser budgets.”
On this news, Cardlytics’ stock price fell $3.94, or 57.1%, to close at $2.96 per share on August 8, 2024, thereby injuring investors.
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