Citation :
Software Company Sage Will Continue to Invest in Cloud Products. Here’s Why the Stock Fell 13%.
The outlook isn’t fine, and the market isn’t happy, punishing Sage’s stock for the poor guidance on profit margins. Shares in the company are now down more than 20% this year, and today’s selloff wiped hundreds of millions of pounds off its market cap. That being said, the company’s strategy of doubling down on capturing businesses moving to cloud products is probably right in the long term.
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