Reported about 15 hours ago
Robotics firm Symbotic Inc has seen its stock plummet by over 30% following a delay in filing its Annual Report and the discovery of revenue recognition errors affecting previous earnings. The company announced it requires additional time to assess these financial impacts and improve internal controls. Symbotic has lowered its revenue projections for the upcoming fiscal year and will amend its previous financial disclosures, prompting a significant market reaction.
Source: YAHOO