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Published December 17, 2024
Aehr Test Systems, Inc. short-circuited investors’ hopes when the semiconductor Company recently slashed its financial projections by millions. Upset investors quickly sold off their Aehr shares, and Aehr’s stock price fell over 22%. Now, shareholders have filed a class action lawsuit against the Company.
In late 2023, Aehr issued its 2024 fiscal guidance. Aehr executives expected at least $100 million in revenue. In January 2024, Aehr revised projections down to $75-85 million, but the Company’s CEO assured investors there was “no way” the Company would miss this new goal. He was wrong., and in March, the Company stunned investors when it reported dismal quarterly income and slashed its revenue target yet again. After the March revision, investors quickly sold off Aehr’s stock, sending the stock price plummeting.