Stock Market Sell-Off: Is Clorox a Buy?
The S&P 500 index is down by around 13% from where it was at the start of 2022 -- about the same percentage that Clorox (NYSE: CLX) is down. However, the iconic maker of bleach and other consumer staples has been falling for a lot longer than that, and it is now more than 33% below its mid-2021 peak.
Now, it looks like the company's prospects are finally starting to improve. Here's why Clorox's fiscal second-quarter 2023 results suggest that its stock may be worth adding to your shopping list.
Clorox was one of the companies that experienced a huge demand spike for its wares during the early days of the coronavirus pandemic in 2020. Its cleaning products were in such high demand that it had to hire contract manufacturers just to keep them on retailers' shelves.
Source Fool.com
