THO - Why Thor Industries Stock Was Down 13% This Week
Thor Industries (NYSE: THO) shareholders lost ground to the market this week. The recreational vehicle giant's stock was down 13% through Thursday trading, according to data provided by S&P Global Market Intelligence . The broader S&P 500 index fell 2.8% over that time. The RV producer's stock is now down 24% so far in 2022 compared to a 17% decline in the market.
This week's slump was powered by an earnings update that left Wall Street feeling disappointed.
Thor Industries said on Wednesday that sales dropped 22% in the period that ended in late October. That slump came after soaring growth over most of the past two years and reflected worsening conditions in the RV market.
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Why Thor Industries Stock Was Down 13% This Week