Tecnoglass Inc (TGLS)

Tecnoglass Inc Stock (TGLS) dropped by 12.05% from $34.26 to $30.13 in the trading on Monday November 6, 2023. The reason why TGLS stock down today is due to the underwhelming forward guidance. Tecnoglass announced strong third-quarter results, however, the company reduced its full-year 2023 outlook for revenue of $835 - $848M, down from $830 - $855M previously. Coupled with expectations for unfavorable noncash foreign currency exchange, as well as a higher mix of installation revenue in Q4, the company also lowered its outlook for 2023 adjusted EBITDA.