Why Camping World Holdings Stock Was Down 14% This Week
Camping World Holdings (NYSE: CWH) investors lost ground to a declining market this week. Shares were down 14% through Thursday trading compared to a 2.7% slump in the wider market, according to data provided by S&P Global Market Intelligence. That slump added to a tough year for owners of the recreational vehicle seller, whose stock is down over 40% so far in 2022.
The decline came as investors became more pessimistic about the short-term outlook for the industry.
Camping World Holdings' stock was pressured by news from a rival that suggests more pain ahead for the RV industry. Thor Industries said this week that sales dove 22% in the selling period that ended in late October. Rising interest rates, plus added pressure on consumer spending from inflation, has reduced demand for discretionary purchases like RVs.
Source Fool.com
