Author Bio
Demitri covers consumer goods and media companies for Fool.com, as well as broader moves in the economy.
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What happened
Limelight Network (NASDAQ:LLNW) shareholders lost ground to a booming market last month. Their stock fell 12% in April compared to a 5.2% spike in the
The slump added to wider losses, with the stock down over 20% so far in 2021.
Image source: Getty Images.
So what
Investors panned the cloud services provider's fiscal first-quarter results, which were released late in the month. That report showed a double-digit sales decline and ballooning net losses. "Our first quarter was challenging from a top- and bottom-line perspective," incoming CEO Bob Lyons said in a press release.