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Feb 21, 01:25 PM
Palo Alto Networks' Guidance Figures Cause Cyber Security Stocks to Plunge with $30 Billion Market Cap Loss, 28% Drop
Economics
Business

Palo Alto Networks' Guidance Figures Cause Cyber Security Stocks to Plunge with $30 Billion Market Cap Loss, 28% Drop

Authors
  • Reuters
  • zerohedge
  • Stocktwits
8

Palo Alto Networks' poor guidance figures led to a significant drop in cyber security stocks after hours. Stocks like $PANW, $CRWD, $ZS, $FTNT, and $PLTR saw declines ranging from 1.5% to 19.2%. Palo Alto forecasted third-quarter billings below estimates, causing its shares to fall. The company's earnings report resulted in a substantial market cap loss, with shares plunging by 28% for the worst day on record since its 2012 IPO.

#Palo Alto Networks#Palo Alto
Tech /Company EarningsBusiness /Financial CrimeCrypto /Hacks and Exploits
Written with ChatGPT (GPT-3).

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