India, Aug. 5 -- Alight, Inc. (ALIT) dropped 19.01 percent to $4.15 on Tuesday after reporting a sharp decline in second-quarter results. The company posted a net loss of $1.07 billion, compared to a $4 million loss a year ago, largely due to a $983 million non-cash goodwill impairment charge tied to its Health Solutions unit. Revenue fell 1.9 percent year-over-year to $528 million.
Shares opened at $5.00 and traded between $4.09 and $5.05. Volume surged to 14.2 million shares, doubling the stock's average daily volume on the New York Stock Exchange. Alight now trades near the bottom of its 52-week range of $4.09 to $8.93.
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