Why General Mills Stock Dived by Almost 22% Last Month
You wouldn't expect that from a company that posted an estimates-beating quarter.
Overview
One of the great challenges for a veteran business is staying relevant through the years. General Mills, anchored by a clutch of familiar food brands like Cheerios and Chex cereals and Häagen-Dazs ice cream, is a bit out of tune with current consumer tastes. That's affecting the company's results and, relatedly, investor sentiment.
In September, an earnings report showing declines in key fundamentals, and a CEO appointment that some took as a discouraging, don't-rock-the-boat move, exacerbated the situation. General Mills' stock price fell by almost 22% that month.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.