Why Pentair Stock Suddenly Plunged to a 52-Week Low This Week
The latest updates from Pentair have left investors shaken.
Overview
If you want a masterclass in how to lose almost $2 billion in market value in a single week, just look at Pentair (NYSE: PNR). The stock slumped 18.5% at its lowest point in trading this week and hit a new 52-week low of $57.60 per share, according to data provided by S&P Global Market Intelligence.
What went wrong? Try a sudden C-suite exit, a brutal guidance cut, analyst downgrades, and a swarm of securities fraud investigations. It's a trainwreck.
Image source: Getty Images.
Details
Source
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.