The company has enjoyed a strong period of revenue growth during the pandemic as videogame consumption increased and more individuals and businesses started using digital services that run on data centers Read More...
Motley Fool
Why Ericsson Stock Tanked 14% Today
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC), or simply Ericsson, were down 14% today as of 12:25 p.m. ET. The Swedish networking and telecom equipment company said it may have inadvertently funded the Islamic State (ISIS) in Iraq in 2019. This announcement comes about a week after Ericsson said it had received inquiries from media outlets regarding its sales in Iraq, and that it would be reviewing a previous internal investigation it conducted in 2019 and would compare findings with that presented to it from external sources.
