So it looks like the financial guidance is responsible for the big sell off as it relates to the pandemic. They are still providing very strong ebitda numbers compared to last years q2 so I don't know what's the problem.
This is from their recent q1 earnings:
Our business has been impacted by the COVID-19 pandemic that has significantly impacted advertiser demand. Like many companies that are ad-funded, we are facing a period of higher uncertainty in our business outlook. We expect our business performance could be impacted by issues beyond our control, such as changing economic conditions or additional shelter-in-place orders that may or may not occur. Assuming that the economy continues to recover and we do not have any major COVID-19 related setbacks that may cause economic conditions to deteriorate, we estimate the following:
Second Quarter 2021 outlook summary:
- Revenue range between $259 million and $262 million
- Adjusted EBITDA of at least $84 million
Keep in mind adjusted ebitda for q1 was $70.5 million so they are guiding strong ebitda sequential growth of almost 20! Looks good to me.