The company reaffirmed their 2024 guidance so it doesn't look like it is related to operational results at least in the short term. The sales officer leaving is interesting. Our speculation would be that the Board has certain targets they want achieved and feel a different set of leadership is needed to get them there. A prior answer is reposted below:
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We think the move in the stock is a bit overdone, particularly given no change in guidance. Sicard has been running the company for over 10 years now. The transition is a bit quicker than what might be ideal but it does not happen until the end of year and the CEO will remain with the company to some degree. Sometimes as a company shifts to a more larger/enterprise/global type of company, it can demand a different set of skills/leadership than what got the company to the current point.