NEW YORK (TheStreet) -- Shares of comScore (SCOR) - Get Report are plummeting 21.45% to $23.09 on heavy trading volume early Tuesday afternoon after missing its own June 27 deadline for issuing an update on an internal investigation into a message it received about its accounting.
The analytics company said its audit committee and board need more time to review the investigation's findings, the Wall Street Journal reports.
On March 7 comScore said the investigation would prevent it from submitting its annual securities filing. The company then said on May 11 it would be unable to submit its quarterly filing as well but would provide an update on June 27.
The company has not set a date for its next update.
About 2.5 million shares of comScore have been traded so far today, well above its average trading volume of roughly 392,581 shares per day.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.
comScore's strengths such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.
You can view the full analysis from the report here: SCOR
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.