Shares of Sleep Number Corp. slid 21% to $28.81 Thursday, continuing a decline from after-hours trading the day before, after the company slashed its full-year earnings outlook on soft demand and ongoing chip shortages.
Intraday trading on Thursday also reached a low of $26.40 per share, a level last seen on April 22, 2020, when trading reached a low of $21.50, according to FactSet.
The maker of smart beds said Wednesday that it was cutting its per-share earnings guidance for the year to between $1.50 to $2, from its prior guidance of $3 to $4 per share. The outlook assumes flat net sales for the fourth quarter.
Shares fell more than 20% in after-hours trading on Wednesday.
Shares traded 62% lower for the year.