Why Genworth Financial Stock Was Dropping Today
Genworth Financial (NYSE: GNW) saw its stock price plummet on Thursday. At 2:40 p.m. ET, it was down about 14.4% but had been down as much as 17.6% during the trading day. As of 2:40 p.m. ET, the stock was trading at $4.66 per share, down 11.8% year to date.
The market was down across the board on Friday. The S 500 was down 31 points (-0.8%), the Dow Jones Industrial Average had fallen 350 points (-1.1%), and the Nasdaq Composite was off 53 points (-0.5%) at 2:40 p.m. ET.
Genworth Financial is an insurance company that provides long-term care, life, and mortgage insurance -- the latter through its subsidiary Enact. Its stock price plummeted after it released first-quarter earnings on Wednesday afternoon after the closing bell.
Source Fool.com
