On August 1, 2024, Universal reported solid 2Q 2024 results and raised the bottom-end of its full year revenue outlook. Management also announced a delay in the commercial introduction of its phosphorescent blue emissive system.
Following this news, OLED’s stock price fell by $40.39 per share, or approximately 19% to close at $172.28 per share.
Further, on October 30, 2024, Universal announced 3Q 2024 revenue results that fell short of consensus and lowered its CY2024 revenue guidance. Analysts questioned the continued delay and lack of an “explicit timeline” in the commercial availability of Phosphorescent Blue.
Following this news, OLED’s stock price fell by $22.84 per share, or approximately 12% to close at $180.32 per share.
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