This is not what the market needed after its first bloody day in Ages.
F5 Networks, a red-hot maker of networking gear, whose stock has been on a tear for ages, is crashing after hours, falling over 20%.
Revenue of $268.9 million was just shy of estimates, but that won’t cut it when your stock is one of the hottest on the market, owned by all the momentum traders, and up around 150% in the last year. Net income also came in well weaker than estimates.
Bear in mind, this comes on a day when all tech got drubbed.
For more on today’s ugly action, see here >