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Why Momo's Stock Is Trading Lower Today

Momo (NASDAQ: MOMO) shares are trading lower on Friday after the company reported worse-than-expected second-quarter sales results. Multiple firms also downgraded the stock.

· 09/04/2020 14:52

Momo (NASDAQ:MOMO) shares are trading lower on Friday after the company reported worse-than-expected second-quarter sales results. Multiple firms also downgraded the stock.

Momo provides mobile-based social networking services. The firm enables its users to establish and expand social relationships based on location and interests. Its platform includes Momo mobile application and a variety of related features, functionalities, tools, and services that it provides to users, customers and platform partners. It also operates a stand-alone video application called Hani, which features the live video content on its core Momo mobile application.

Momo shares were trading down 6.61% at $15.68 on Friday during the time of publication. The stock has a 52-week high of $40.87 and a 52-week low of $15.40.