Why Turning Point Brands Stock Was Sliding This Week
It was an eventful set of days for the company, but not in ways investors appreciated.
Overview
Turning Point Brands (NYSE: TPB) is surely ready to head into the weekend. That's because the trailing few trading days weren't kind to the tobacco company's stock.
On the back of a surprise resignation, an unwelcome change to annual profitability guidance, and a deep price target cut from an analyst, investors bailed out of its shares. They were down by almost 12% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence.
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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.