Why is the Kogan share price crashing 12%?
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Kogan.com Ltd (ASX: KGN) shares are on the slide on Tuesday morning.
At the time of writing, the ASX 300 stock is down 12% to $3.99.
Why is the Kogan share price crashing?
Investors have been selling the ecommerce company’s shares this morning following the release of a trading update.
According to the release, Kogan has achieved sales growth and profit margins during the four-month period to 30 April.
The core Kogan.com business achieved gross sales growth of over 24% compared to the prior corresponding period. This was driven by a strong performance across its Kogan FIRST, Marketplace, and Verticals divisions.
The company notes that active customers increased to 2.7 million, representing year on year growth…
