TREX - Here's Why Trex Stock Fell Today
Shares of composite-decking company Trex (NYSE: TREX) were falling today after the company reported full-year 2020 results. The results exceeded Wall Street's expectations but forward guidance was less than what some had hoped for. As a result, Trex stock was down 9% for the day.
Trex benefited throughout 2020 from people staying home more and making upgrades to their homes. The company's full-year net sales increased 18% from sales in 2019. And fourth-quarter sales made a huge jump. Traditionally, Q4 is slower, but in Q4 2020, Trex's net sales were up 39% year over year to $228 million.
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Here's Why Trex Stock Fell Today