Why Symbotic Inc. (SYM) Stock Went Down On Thursday?

We recently published a list of 10 Firms Hit Hard in Thursday’s Trading. In this article, we are going to take a look at where Symbotic Inc. (NASDAQ:SYM) stands against other firms that hit hard in Thursday’s trading.

Shares of 10 companies were hit hard on Thursday, bucking a mostly optimistic broader market, as investor sentiment was dragged down by disappointing earnings performances and loss of key partnerships.

The Dow Jones was the sole decliner during the day, losing 0.28 percent in its valuation. In contrast, the S&P 500 and Nasdaq Composite both ended firmer, rallying by 0.36 percent and 0.51 percent, respectively.

This article details the reasons behind the 10 companies’ lackluster performance.

To come up with Thursday’s worst performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

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Symbotic Inc. (NASDAQ:SYM)

Shares of Symbotic Inc. (NASDAQ:SYM) declined by 15.94 percent to end Thursday’s trading at $25.99 apiece following disappointing profit performance in the first quarter of fiscal year 2025.

In its latest earnings release, Symbotic (NASDAQ:SYM) registered a 22.5-percent wider net loss attributable to shareholders at $3.4 million versus the $2.8 million registered in the same period a year earlier, despite revenues increasing by 35 percent to $487 million from $360 million.

Net loss alone narrowed by 3 percent to $18.5 million from $19.07 million year-on-year.

For the second quarter of fiscal year 2025, Symbotic (NASDAQ:SYM) said it expects revenue to settle between $510 million and $530 million, while adjusted EBITDA was projected to end between $26 million to $30 million.

“Looking forward to the fiscal second quarter of 2025, we expect another quarter of at least 30 percent year-over-year revenue growth with expanding margins,” said Symbotic Chief Financial Officer Carol Hibbard.

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Disclosure: None. This article is originally published at Insider Monkey.