The Ratings Game: Nutanix stock heads for worst day on record, analysts say cloud specialist is spread too thin

Shares of former Wall Street darling Nutanix Inc. are on pace to lose almost a third of their value Friday, after the cloud-computing company delivered an extremely downbeat forecast.

Nutanix NTNX, -31.08% shares fell 31% in morning trading and were on track for their worst single-day slide in history, as the company’s latest outlook prompted several analysts to head for the hills. If the losses hold, the plunge could erase $2.9 billion from Nutanix’s market value, based on the share count from the company’s latest filing.

“Ultimately, we think Nutanix has tried to do too much (massive portfolio expansion, cloud rollout, M&A, etc.

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