Health
Dexcom Plummets 40% After Cutting Full-Year Sales Forecast
- Glucose-meter revenue impacted by rebates, salesforce revamp
- Diabetes device maker may still face weight-loss drug impact
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Dexcom Inc. plunged as much as 40% after the maker of blood sugar monitoring devices for diabetics unexpectedly slashed its 2024 sales guidance, catching Wall Street by surprise.
The stock decline is the largest on record for the stock and has erased more than $17 billion of market capitalization.