Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

SemiLEDs is falling after meteoric rise

SemiLEDs Corporation, a developer and manufacturer of LED chips and LED components, today announced its financial results for the third quarter of fiscal year 2016, ended May 31, 2016.

Revenue for the third quarter of fiscal 2016 was $2.4 million, an 18% decrease compared to $2.9 million in the second quarter of fiscal 2016. GAAP net loss attributable to SemiLEDs stockholders for the third quarter of fiscal 2016 was $3.3 million, compared to a loss of $2.5 million in the second quarter of 2016, or a net loss of $1.11 per diluted share, compared to a net loss of $0.87 per diluted share for the second quarter of fiscal 2016.

Poor results inflicted losses on company's shares, and losses are as big as 19%. Recently the stock skyrocketed more than 100% in one session, and as I mentioned recently it was overdue for a correction which happened today