P3 Health Partners Inc. (NASDAQ:PIII) shares are trading lower on Monday. The drop follows a massive 180% surge during Friday’s session.
Traders Lock In Profits
The Monday decline represents a natural correction. Retail traders are likely engaging in profit-taking after the historic rally. On Friday, intense buying pressure triggered an upside circuit breaker for the stock.
Earnings Beat Wall Street Estimates
The Friday rally followed the company’s Thursday after-hours earnings report.
P3 Health Partners reported a quarterly loss of $1.72 per share. This performance beat the analyst consensus estimate of a $3.28 loss per share. It also marks an improvement from the loss of $6.28 per share reported in the same period last year.
Quarterly sales reached $386.390 million, up from $373.225 million year-over-year. However, sales …
This post was originally published here
