Arena Group is trading at $1.12 with a -5.71% change after investors continued repricing the company following its August 10 earnings release and second-quarter revenue miss.
- Second-quarter revenue fell to $22.2 million, down 50.7% year over year and below the $35 million forecast, missing by $12.8 million, or 36.57%.
- Adjusted EBITDA declined to $4.4 million from $18.6 million.
- Shares fell from $2.20 on August 10 to $1.19 on August 13.