Sonos Tanks 23% as Audio Equipment Maker Suffers Demand Slump: Is an Industry in Crisis?
Shares of Sonos Inc., the California-based audio product pioneer, fell more than 23% in the extended session on Wednesday after the company posted better than expected second quarter results but cut guidance for the year citing a softening market with decreased consumer demand. In its Q2 report, Sonos lost $31 million, equivalent to 24 cents […]