These 5 Stocks Are Crashing Today

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1. Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) is down 8.2% as of 11:37 AM ET after the Swedish information and communication company warned that it would likely be fined by US regulators over the handling of a bribery scandal originating from Iraq. The stock has lost 30% of its value since the scandal was reported.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) also reported a decline in profit following the suspension of its business in Russia due to the conflict. Furthermore, Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) recorded an 11% decline in adjusted earnings to $95 million in Q1 2022.

Of the 924 hedge funds being tracked by Insider Monkey, Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was held by 18 hedge funds as of Q4 2021.

You can also take a peek at the 10 European Defense Stocks to Buy Now and 10 Best Micro-Cap Stocks to Buy According to Hedge Funds.

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