🔴 Arena Group is trading 5% down in pre-market after second-quarter revenue fell 50.7%

Arena Group is trading 5.03% down now at $1.13 after investors continued repricing the company following its August 10 earnings release.

• Second-quarter revenue fell to $22.2 million, down 50.7% year over year and below the $35 million forecast.
• The stock fell 18.75% on August 12 and 8.46% on August 13.
• Broader markets were modestly mixed on August 14, so company-specific earnings concerns appear more relevant than macro weakness.