Reported about 14 hours ago
Shares of Symbotic plunged 36% on Wednesday after the company revealed significant accounting errors necessitating a restatement of its fiscal 2024 results. The newly discovered issues are expected to severely impact revenue and profitability forecasts, leading to lowered guidance for the first quarter of fiscal 2025. With investor sentiment shaken and the annual report now delayed, analysts suggest that potential investors should exercise caution until more information is available.
Source: YAHOO