HOG - Why Harley-Davidson's Shares Tumbled 5% This Morning
Shares of Harley-Davidson (NYSE: HOG) lost 5% of their value in early trading on Thursday after Wedbush analyst James Hardiman was quoted in Barron's warning lower used motorcycle prices could weigh down demand. As of 12:30 p.m. EDT, shares had recovered to a 3.7% decline.
The consumer discretionary company is a goliath in motorcycle manufacturing and sales, but revenue has been hamstrung by COVID-19-related increases in unemployment, and according to Hardiman, weak pricing for used models suggests the company's road to recovery could be longer than some might think.
Image source: Harley-Davidson.