SentinelOne's disappointing forecast slams shares

FILE PHOTO: The logo for SentinelOne Inc, a cybersecurity firm, is displayed on a screen during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2021. REUTERS/Brendan McDermid

(Reuters) -Cybersecurity firm SentinelOne Inc was set to shed over a third of its market value on Friday after a tough economy and stiff competition slammed its quarterly earnings and forecast.

Shares of the company sank 35% in early trading on Friday and the stock could erase most of the 42% rise it has posted so far this year, if losses hold through regular trading.