FIVE - Five Below Drops A Dime On An Abrupt Update (Rating Downgrade)
2024-07-17 03:34:43 ET
Summary
- Five Below shares dropped 10% after the management shake-up and change in guidance for the upcoming second quarter release.
- Year to date, shares are down 53.1% despite attractive growth in past years.
- This decline is based on its high valuation in the past and worries about its prospects moving forward.
- This does not factor in the additional pain caused by a management shake-up and change in guidance that should have investors looking at the business cautiously.
July 16th was not a good day to be a shareholder of discount retailer Five Below ( FIVE ). After the market closed, shares of the company fell by roughly 10%. This came in response not only to a management shake-up, but also to a change in guidance for the firm's upcoming second quarter release. Overall, data from the company shows some deterioration in overall performance. When you add on top of this the worries that the management shake-up is certain to hit investors with, it's no wonder why shares declined....
Five Below Drops A Dime On An Abrupt Update (Rating Downgrade)