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GTLS.US
id: 949
Chart (GTLS) Failed Guidnace Case
- In October, Chart reported missing revenue estimates for 2023.
- On it, $GTLS fell 24.9%, losing $1.5B+ shareholder value.
- Investors may suspect Chart of overstating revenue goals, which led to their losses.
On October 27, 2023, Chart released Q3 2023 financial results, reporting both EPS and revenue missing estimates. Additionally, the Company reduced its full-year 2023 revenue guidance.
On this news, $GTLS fell 24.9% and lost over $1.5 billion of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Chart and its executives hid their inability to meet revenue goals, which consequently led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10/27/2023