Impinj stock dives 24% after outlook whiffs; Evercore slashes rating on PI
Impinj shares fell 24.3% to $116.46 Friday after the company forecast a sharp first-quarter slowdown, citing inventory burn-down in logistics and weaker systems demand. Evercore ISI downgraded the stock and cut its price target to $112. Fourth-quarter revenue came in at $92.8 million, with first-quarter guidance of $71–$74 million. The stock hit an intraday low of $105.