Why Smith & Wesson (SWBI) Shares Are Plunging Today
Shares of american firearms manufacturer Smith & Wesson (NASDAQ:SWBI) fell 13.1% in the morning session after the company reported weak third-quarter results as revenue missed expectations, declining nearly 16% year on year, while earnings came in roughly in line. Operating margins also deteriorated, reflecting weaker sales and cost pressures. Additionally, the company burned cash during the quarter, with free cash flow turning negative.