We are investigating Fluent, Inc. (FLNT) (“Fluent” or the “Company”) for potential violations of the federal securities laws.
On November 11, 2019, post-market, Fluent issued a press release announcing its financial results for the third quarter of 2019. Among other results, Fluent reported revenue that fell short of analyst expectations, citing “confluence of factors, including certain uncollectible receivables, ebbs with several business partners and organizational re-alignment.” Fluent also cut its full-year revenue guidance to a range of $265 million to $267 million, down significantly from previous guidance of $277 million to $285 million. On this news, Fluent’s stock price fell $0.86 per share, or 33.86%, to close at $1.68 per share on November 12, 2019.