Business
Why Lannett Stock Is Plunging Today – Motley Fool
Investors are not impressed with the company’s full-year guidance.
What happened
Generic drug manufacturer Lannett (NYSE:LCI) released its financial results for the second quarter of its fiscal year 2021 — which ended on Dec. 31, 2020 — after the market closed on Wednesday. And although the company’s performance was in line with or above expectations, investors were not pleased with its updated guidance for its full fiscal year 2021. As a result, shares of Lannett are dropping sharply on Thursday and were down by 16.3% as of 1:14 p.m. EST today, after falling…
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