Why Campbell's Soup Stock Plummeted by 16% in September
Much of this was due to underwhelming quarterly results.
Overview
Going into September, general sentiment on the food industry wasn't particularly positive. One of the reasons inflation continues to be an issue in the U.S. is the rise in food prices, and companies in the comestibles industry are feeling the pinch.
The fiscal fourth-quarter results Campbell's (NASDAQ:CPB) reported during the month did little to improve this outlook. Across the month, the famous soup specialist saw its share price erode by more than 16%. This is a storied company that has survived worse times, so to me, its equity looks attractive after its decline.
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Originally published at www.fool.com.
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