Why ATI Physical Therapy Stock Just Got Destroyed

Why ATI Physical Therapy Stock Just Got Destroyed
·2 min read

Shares of ATI Physical Therapy (NYSE: ATIP) stock were rocked on Monday, falling 36.5% through 11:15 a.m. EDT after the physical therapy chain reported a big revenue miss and an even bigger reduction in forward guidance as part of its Q2 2021 earnings report. Heading into Q2, analysts had forecast that the recent SPAC IPO would report in excess of $175 million in revenue for the quarter. In fact, ATI said its revenues were only $164 million -- with a $5.5 million pre-tax loss.

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