BVH - Why Bluegreen Vacations Stock Was Down This Week
2023-03-17 08:50:00 ET
Bluegreen Vacations (NYSE: BVH) stock fell hard despite a rising market this week. The vacation property specialist's shares declined 15% through Thursday trading compared to a 2% increase in the wider market, according to data provided by S&P Global Market Intelligence . That drop didn't erase all of the gains that shareholders have seen this year, though, and the stock is still in positive territory so far in 2023.
The decline was sparked by an earnings report that showed mounting pressures on the business.
Bluegreen Vacations announced on Monday that revenue rose 17% for the fourth quarter. This increase added to a record year of demand for its timeshare and vacation ownership packages. But Wall Street was more interested in the weaker outlook for 2023.
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Why Bluegreen Vacations Stock Was Down This Week