8×8, Inc.(EGHT) stock started Thursday with positive mode and gained 1.76% in normal trading session but lost 6.31% in the after-hours session. over the last 12 months, EGHT shares have gained 98.08% and in the last week, it gained 3.18% while over the past six months, it has added 103.77%. as of this writing, it has lost a further 6.31% in Friday’s pre-market session
Let’s try to figure out the reason behind its turnaround
Upcoming announcement of Q4 and FY 2020 results
On April 16, 2021, 8×8, Inc said that it is going to release financial results for the fourth quarter and full-year fiscal 2021 ended March 31, 2021, on Monday, May 10, 2021, after market closure. A conference call will be held on the same day at 1:30 pm Pacific Time (4:30 pm Eastern Time) to discuss its financial progress.
New Chief Customer Officer appointment
On April 15, 2021, 8×8, Inc appointed Walt Weisner as Chief Customer Officer.
Before joining 8×8, Inc, Weisner held senior management positions leading high-performing global customer care and support operations at cloud and Software as a Services companies, including BlueJeans Network by Verizon, RingCentral, and WebEx.
Westcon partnership with 8×8
On April 7, 2021,8×8 signed a distribution agreement with Westcon which will enable 8×8 to expand its global footprint. 8×8 will also provide best-in-class UCaaS and CCaaS public cloud solution via a wholesale model to Westcon’s partners.
Harrow Council jumped on 8×8 product wagon
On March 31, 2021,8×8 said that its integrated cloud contact centre and communications product has been deployed by the Harrow Council as part of its digital transformation agenda to enhance the delivery of essential services for its more than 240,000 residents.
5-Star rating by CRN
On March 29, 2021,8×8 announced that its global 8×8 Open Channel Program won a 5-star rating by CRN. The 5-Star rating is awarded to an exclusive group of companies that offer solution providers the best of the best, going above and beyond in their partner programs.
8×8 Contact Center for Microsoft Teams
On March 15, 2021,8x8announced the availability of 8×8 Contact Center for Microsoft Teams.8×8 Contact Center will offer omnichannel contact centre functionality that is fully integrated with Teams.
New Executive Vice President and Chief Marketing Officer appointment
On March 4, 2021, 8×8 appointed Amritesh Chaudhuri (Amrit) as Executive Vice President and Chief Marketing Officer, effective March 1, 2021.
Chaudhuri worked at RingCentral. Previously, he led marketing for Oracle’s Cloud Platform portfolio and was responsible for setting the leadership vision and execution strategy to drive growth and adoption for Oracle’s PaaS and IaaS services.
There is no recent news except schedule announcement of financial results which could be the reason behind its negative momentum.