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CMBM.US
id: 947, Created by , Scout

Cambium Networks (CMBM) Downward Outlook Case

  • In October, Cambium Networks reduced its outlook, contrary to guidance in August.
  • On it, $CMBM fell 36.2%, losing $79M shareholder value.
  • Investors may suspect Cambium of hiding negative business trends, which led to their losses.
On October 4, 2023, Cambium Networks (CMBM) announced preliminary results for Q3 2023, revealing a significant reduction in expected revenues compared to the previous outlook of Aug. 1, 2023. The Company attributed this reduction to:
  • delay in government defense orders,
  • sluggish revenues in the Point-to-Multi-Point business,
  • decrease in orders and an increase in stock rotations from distributors in the Enterprise business,
  • continued economic headwinds.
On this news, $CMBM fell 36.2% and lost over $79 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Cambium Networks and its executives failed to timely disclose negative business trends, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
05 October 2023
Collecting participants…

Cambium Networks Corp

Cambium Networks Corporation, together with its subsidiaries, designs, develops, and manufactures wireless broadband and Wi-Fi networking infrastructure solutions. The company offers point-to-point...

    Ticker
    CMBM.US
    ISIN
    KYG177661090
    CIK
    1738177
    Sector
    Technology
    Industry
    Communication Equipment
    Country
    USA
    Address
    3800 Golf Road, Rolling Meadows, IL, United States, 60008