Why Coca-Cola Company Stock Got Crushed Today
Shares of Coca-Cola Company (NYSE: KO) stock closed trading Wednesday down a bit more than 4.9%.
That's not too surprising; it's actually a bit less than the loss most stocks suffered. When the closing bell rang, after all, the Dow Jones Industrial Average was down 6.3%, and the S&P 500 had dropped an only slightly less extreme 5.2%.
What is surprising is that, in contrast to most stocks today -- which fell on no obvious news, and simply "because everything is going down" -- there was actually an identifiable reason behind Coca-Cola's decline: an analyst downgrade from investment bank Morgan Stanley.
Source Fool.com