Why American Eagle Outfitters, Avis Budget Group, and Groupon Stocks All Dropped 5% Today
The five-day-long stock market rally took a breather on Tuesday, with shares of consumer-facing stocks including clothier American Eagle Outfitters (NYSE: AEO), rental car company Avis Budget Group (NASDAQ: CAR), and e-coupon hawker Groupon (NASDAQ: GRPN) falling 5%, 5.1%, and 5.3%, respectively through 3:30 p.m. EDT.
Why did these three stocks in particular fall so much harder than the S&P 500 as a whole (the S&P, by the way, is only down about 0.7%)?
That's hard to say. There isn't, so far as I can tell, any particular news of note weighing on any of these three shares today -- no negative press releases, earnings warnings, or even analyst downgrades that would explain why American Eagle, Avis, or Groupon in particular should be suffering.
Source Fool.com
