Investigation of Funko, Inc.
You Have Legal Options
Funko, Inc. (FNKO) Reveals Disappointing Financial Results
On February 5, 2020, Funko revealed in its preliminary fourth quarter 2019 financial results that its net sales were expected to decrease by 8% and that the Company would incur a $16.8 million write-down to “dispose of slower moving inventory.” On this news Funko’s stock price fell $6.20 per share, or 40%, to close at $9.29 per share. One month later, Funko affirmed a decrease of 4% year-over-year in net sales for its fourth quarter 2019 financial results citing “softness at retail during the holiday season which led to a decrease in orders.” On this news, Funko’s stock price fell over 4% to close at $6.92 per share.