Megaport Shares Recover After Intraday Plunge

Megaport Shares Recover After Intraday Plunge

Megaport shares rebounded after initially plummeting nearly 20 per cent in early trading. At 10.38am AEST, the company’s shares were down 17.8 per cent to $12.17 due to concerns over higher operating expenses potentially impacting earnings, despite revenue growth. However, by 12.20pm AEST, the stock had recovered to be up 1.6 per cent at $15.08. According to E&P analyst Paul Mason, Megaport’s chief executive, Michael Reid, worked to project a po…

Why Did Megaport Drop 18% After Strong Results?

Megaport’s Strong Results Met With a Sharp Sell-Off  Megaport (ASX:MP1) caught investors off guard this reporting season. Despite delivering strong results, its share price slid 18 percent in a single session. For a company riding the artificial intelligence boom and positioning itself as a leader in Network as a Service, that kind of drop was…