Why Skechers Stock Dropped Today
While the broad stock market was soaring on interest rate cuts today, Skechers (NYSE: SKX), the casual footwear specialist, was moving in the opposite direction, tumbling after it told investors that China sales were weaker than expected at an industry conference.
As a result, the stock finished down 9.6% on the news.
Image source: Getty Images.
Source Fool.com
