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MXL.US
id: 985
MaxLinear (MXL) 2023 Sharp Decline in Revenue Case
- In July and October 2023, MaxLinear (MXL) disclosed sharp Y2Y drop in revenue for Q2’23 and Q3’23 respectively, as well as revised downward Company's Q4’23 revenue projection.
- On it, $MXL fell 33.7% in July losing $933M+ of shareholder value, and $MXL also fell 22% in October, losing $329M+ of shareholder value.
- Investors may have grounds to suspect that Lincoln has ongoing business setbacks, which led to their losses.
- In July and October 2023, MaxLinear (MXL) disclosed sharp Y2Y drop in revenue for Q2’23 and Q3’23 respectively, as well as revised downward Q4’23 revenue projection.
- On it, $MXL fell 33.7% in July losing $933M+ of shareholder value, and $MXL also fell 22% in October, losing $329M+ of shareholder value.
- Investors may have grounds to suspect that Lincoln has ongoing business setbacks, which led to their losses.
On July 26, 2023, MaxLinear announced Q2’23 results, with net revenue down 34% Y2Y.
On this news, $MXL fell 33.7% and lost over $933 million of its market capitalization, seriously damaging shareholders.
Then, on October 25, 2023, MaxLinear announced Q2’23 results, with net revenue down 53% Y2Y, and also provided disappointing revenue guidance for Q4’23.
On this news, $MXL fell 22% and lost over $329 million of its market capitalization, further damaging shareholders.
Considering all the information, investors might have grounds to suspect that MaxLinear failed to timely disclose company’s ongoing business setbacks, 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
10/26/2023