Why Borr Drilling Stock Was Slumping This Week

Investors hoping that Borr Drilling (NYSE: BORR) stock would dig up significant gains were disappointed over the past few days. On Thursday, the offshore drilling specialist reported a first quarter that investors clearly found underwhelming, and many sold their shares.According to data compiled by S&P Global Market Intelligence, Borr's price was down by almost 10% week to date as of early afternoon Friday.For the quarter, Borr's revenue came in at $247 million, which was 14% higher year over year. However, the company's net loss under generally accepted accounting principles (GAAP) deepened considerably to $29 million ($0.09 per share) from the year-ago frame's $16.9 million deficit. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool