Why Coty Stock Tumbled Again Today
Shares of Coty (NYSE: COTY) were falling again today as investors continued to react to a disappointing earnings report from Monday and news that the company was selling a majority stake in its professional beauty business. An analyst downgrade on the stock this morning and a broader sell-off in the market helped push the stock lower, as well.
As of 12:12 p.m. EDT, the stock was down 15%, which followed an 8% loss on Monday and a 9.4% slide yesterday.
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Source Fool.com