Rubicon Fell Over 3% in Premarket Trading and Tumbled Nearly 60% in 6 Days
Tiger Newspress2023-08-11
Rubicon Technologies, Inc. fell over 3% in premarket trading and tumbled nearly 60% in 6 days.
It achieves second consecutive quarter of record Gross Profit at approximately $12 million, more than double Gross Profit in the second quarter of 2022. The Company remains on track to achieve positive Adjusted EBITDA for Q4 2023.
Meanwhile, Palantir reported second-quarter earnings and revenue in line with the consensus estimates. On a GAAP basis, the company reported profitability for a third straight quarter. It already fell over 15% this week.
Before that, Palantir recently purchased around 6 million additional shares of Rubicon stock. This has its total stake in Rubicon climbing to 6.2%, or 14.63 million shares.
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