Why Forge Global Stock Continues To Fall After Hours

Forge Global Holdings Inc FRGE shares are trading lower in Monday's after-hours session after the company announced financial results.

Forge Global reported first-quarter revenue of $20.02 million, which was down from revenue of $32.06 million in the prior year quarter. The company reported a quarterly loss of 98 cents per share, according to data from Benzinga Pro.

Forge Global said trading volume was down 45% year-over-year to $418 million. Total assets under custody increased 8% year-over-year to $14.9 billion.

Forge Global did not reaffirm its previously issued guidance given current volatility and uncertain market conditions.

The company is a provider of marketplace infrastructure, data services and technology solutions for private market participants.

FRGE 52-Week Range: $11.06-$47.50

The stock closed down 36.8% on Monday and was down another 3.1% in after hours trading at $17.20 at press time.

Photo: 3844328 from Pixabay.