DMC Global Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On October 21, 2024, DMC revised its financial outlook for the quarter ending September 30, 2024, significantly lowering its adjusted EBITDA projection to approximately $5 million, down from the previously expected range of $15 to $18 million. The company also stated that its third-quarter results would include roughly $5 million in charges related to inventory and bad debts at DynaEnergetics, as well as reduced fixed overhead absorption due to weaker sales at both Arcadia and DynaEnergetics. Additionally, DMC disclosed an approximate $142 million non-cash goodwill impairment charge linked to its acquisition of a majority stake in Arcadia in December 2021.
Following this announcement, DMC’s stock price dropped by $2.36, or 18.3%, closing at $10.57 per share on October 22, 2024, causing significant losses for investors.
Further developments unfolded on November 4, 2024, when DMC released its third-quarter financial results for the period ending September 30, 2024. In response, DMC’s stock continued to slide, with a drop of more than 10% observed during midday trading on November 5, 2024.
