Kit Digital Drops to Prague Record Low as Sales Trail Estimates
Kit Digital Inc. (KITD) fell to a record low in Czech trading after the online video software maker’s preliminary first-quarter revenue at $59 million trailed the $72.4 million mean estimate of analysts surveyed by Bloomberg.
The stock plummeted 21 percent to 98.9 koruna by 3:08 p.m. in Prague, the lowest intraday level since the New York-traded company cross-listed in Prague in January 2010.
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