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Why Brown & Brown Stock Was Down Big on Tuesday

TheMotleyFool

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Why Brown & Brown Stock Was Down Big on Tuesday: https://g.foolcdn.com/editorial/images/706126/person-at-kitchen-table-looking-at-laptop.jpg

Brown & Brown (NYSE: BRO) saw its stock price drop significantly on Tuesday, as it fell as much as 12.6% by around 11 a.m. ET and was down 11% at 12:30 p.m. ET. The stock price is down about 20% year to date, trading at about $55 per share.

It was in stark contrast with what started out as a good day for the markets, as all of the major indexes were up on Tuesday, with the Nasdaq Composite leading the way, up about 2% at 12:30 p.m. ET.

Brown & Brown, a leading insurance broker, released its third-quarter earnings on Monday after the market close, showing that it missed revenue and earnings estimates.

Source Fool.com

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