Shares of cloud software company Cloudera fell more than 40 percent Wednesday to all-time lows after the company issued guidance that came in just below Wall Street estimates.
The stock had shed roughly $1.25 billion in shareholder value by midday, despite beating analyst estimates for fourth-quarter earnings and revenue on Tuesday.
The company issued guidance Tuesday for the first quarter and fiscal year 2019 that fell just shy of Wall Street estimates for both revenue and earnings.
Chief Financial Officer Jim Frankola said the company expected "uneven results" while it made changes to corporate structure.
Before Wednesday's tumble, the stock had been up 35 percent year to date. It's now down nearly 20 percent for the same period.
— CNBC's Jordan Novet contributed to this report.