Lululemon Stock Is Down More Than 50% Year-to-Date. Has the Sell-Off Gone Too Far?
The reaction to the fiscal 2024 first-quarter report (NASDAQ: LULU) released on June 5 was positive -- traders sent the stock up to an intraday high of $337.76 on June 6. Since then, though, the share price has been crushed -- falling to a four-year low below $250 on July 25. The stock is now down by just over 50% year to date, making it the second-worst performing component of the S 500, behind only Walgreens Boots Alliance.
Here's what's pushing this growth stock down, and why the sell-off could be a buying opportunity for patient investors.
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Source Fool.com