HOG - Why Harley-Davidson Skidded 38% in March
Harley-Davidson (NYSE: HOG), the iconic American motorcycle maker, has been struggling with strategy and product for some time. Its heavily marketed electric motorcycle LiveWire fell flat last year, the company's strategies to appeal to a younger demographic aren't working, and growth in China has been disappointing.
The shares have been sinking steadily from $63.40 in March 2017, to $16.22 in March 2020, a drop of 74%. But the downhill slide really picked up speed last month, when the stock price decreased 38%, according to data provided by S&P Global Market Intelligence.
Two important events occurred to send the stock tumbling. First, U.S. production was suspended after an employee tested positive for COVID-19.