Publications of earnings are events that are known to cause volatility in stock prices. However, the drop of 12.5% that Deluxe Corporation (DLX) faced shortly after trading commenced on the day after it reporting earnings is quite uncommon.
Deluxe stock. Source: Seeking Alpha.
I have written about Deluxe before. The company is an important player in the market of checks, which is a declining business for obvious reasons. The company knew this too and has been on a multi-year M&A spree to acquire mostly marketing-related services businesses. In my first article on