LNC - Why Lincoln National Stock Plummeted 27.7% in November
Lincoln National (NYSE: LNC) had a bumpy ride in November, falling 27.7% in the month, according to S&P Global Market Intelligence . It was well off the pace of the Dow Jones Industrial Average, which was up 5.7% in November, and the S&P 500, which gained 5.4% last month.
The insurance and investment firm is down about 45% year to date, trading at just over $37 per share as of Dec. 5.
Lincoln National's stock price crashed on Nov. 3, the day it released its third-quarter earnings. The disastrous earnings report precipitated a decline from about $52 per share on Nov. 2 to around just over $34 per share by market close on Nov. 3. During the trading day on Nov. 3, the stock was down as much as 32% .
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Why Lincoln National Stock Plummeted 27.7% in November