Business
Kogan.com (ASX:KGN) share price sinks 9% following half year results – The Motley Fool Australia
The Kogan.com Ltd (ASX:KGN) share price is sinking despite delivering explosive sales and profit growth during the first half of FY 2021…
The Kogan.com Ltd(ASX: KGN) share price is sinking lower on Friday morning.
At the time of writing, the ecommerce company’s shares are down 9% to $14.10.
Why is the Kogan share price sinking lower?
Investors have been selling Kogan shares on Friday following weakness in the tech sector and the release of its highly anticipated half year results.
For the six months ended 31 December, the company reported a 97.4% increase in gross sales to $638.2 million and an 88.6% jump in revenue to $414 million.
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