F5 shares fall about 20 percent, the worst day in more than a decade
The Seattle security company beat estimates, then told investors it would spend more on AI security and grow more slowly.
Shares of F5 fell about 20 percent on Wednesday, a day after the Seattle company beat Wall Street's estimates and said it would spend more to pursue growth in AI security, GeekWire reported. The stock traded around $368 late Wednesday morning, down from $459 at Tuesday's close, erasing about $5 billion of market value. Barron's said that put F5 on pace for its biggest one-day drop in more than 13 years. Before the drop, the shares had climbed nearly 80 percent this year.
F5 forecast slower growth and lower margins along with the extra AI-security spending.
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