Why Drive Shack Stock Dropped 19.1% Today

Why Drive Shack Stock Dropped 19.1% Today

Shares of Drive Shack (NYSE: DS) fell as much as 19.1% in trading on Friday after reporting first-quarter 2021 financial results. Total revenue was flat at $61.1 million, and the net loss improved from $17.4 million a year ago to $10.9 million, or $0.15 per share. Digging into the numbers, revenue at Drive Shack locations was down $1.9 million versus a year ago to $8.2 million.