Why GDS Stock Plummeted This Week
GDS (NASDAQ: GDS) stock got hit with sell-offs following the company's fourth-quarter report this week. The China-based data center company's share price ended this week's trading down 21.5% from the previous week's close, according to data from S&P Global Market Intelligence.GDS published its fourth-quarter results before the market opened on Wednesday, and investors weren't happy with the business' performance in the period. But despite the big sell-off, the stock is still up roughly 231% over the last year. GDS posted earnings $3.08 per American depositary share on sales of $368.6 million in the fourth quarter, but the profit stemmed from one-time accounting events. Meanwhile, the company posted a loss from continuing operations of $23.8 million in the period. Revenue was up 9.1% year over year, with growth mostly driven by the continued expansion of the company's data center operations. Continue reading
GDS (NASDAQ: GDS) stock got hit with sell-offs following the company's fourth-quarter report this week. The China-based data center company's share price ended this week's trading down 21.5% from the previous week's close, according to data from S&P Global Market Intelligence.
GDS published its fourth-quarter results before the market opened on Wednesday, and investors weren't happy with the business' performance in the period. But despite the big sell-off, the stock is still up roughly 231% over the last year.
GDS posted earnings $3.08 per American depositary share on sales of $368.6 million in the fourth quarter, but the profit stemmed from one-time accounting events. Meanwhile, the company posted a loss from continuing operations of $23.8 million in the period. Revenue was up 9.1% year over year, with growth mostly driven by the continued expansion of the company's data center operations.
