Rosetta (NYSE: RST) Reports Sharp Fall in Shares
Friday, February 18, 2022 1:04 PM

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Rosetta Stone Inc. (NYSE: RST), a provider of technology-based language learning solutions, has reported that its shares fell sharply after the language software maker lowered its fourth-quarter earnings and revenue forecasts, citing weak U.S. demand and the bankruptcy filing of book retailer Borders Group.

Rosetta said lower-than-expected sales in U.S. retail locations have been further hurt by the financial impact of Borders Group Inc. filing for Ch. 11 bankruptcy protection. Borders made the announcement on Wednesday. It is closing 200 stores, and may close as many as 75 more as it attempts to reorganize its business under court protection.

Rosetta expects the U.S. market to remain challenging at least through the first quarter, and predicted a loss for that period. Its stock tumbled $3.12, or 15.4 percent, to $17.15 in midday trading.

The stock traded as high as $27.50 last spring but fell sharply to bottom at a 52-week low of $16.65 in September. Shares have been seesawing ever since.

The shares of the company are trading at $17.34, down 14.45 percent.

 

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