Why Crocs Shares Plunged in February
Shares of popular clog and sandal maker Crocs (NASDAQ: CROX) have been on a severe downtrend so far this year. The stock dropped 18.4% in February alone, according to data provided by S&P Global Market Intelligence. That, along with a further decline to start March, brings the year-to-date drop to almost 40%.
The stock's retreat in the most recent month came as the company reported its fourth-quarter and full-year 2021 results on Feb. 16. While the report detailed an excellent year for Crocs, some additional expenses are anticipated in the near term, which had investors spooked. But longer term, the company just added a new catalyst for growth with a $2.5 billion acquisition, and management still sees strong sales growth continuing.
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Source Fool.com
