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Investigation Details
On July 22, 2024, after market hours, MedPace announced mixed financial results for the second quarter of 2024 and then slashed its revenue guidance for the third quarter and remainder of the year. Analysts referred to the company’s bookings miss as “significantly worse” than imagined and revised their outlooks accordingly. In response to MedPace’s announcements, the company’s stock price opened approximately 17% lower than the prior day’s closing price.
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