Why Crocs Stock Lost 16% in May

Shares of Crocs (NASDAQ: CROX), the comfort footwear specialist, were falling last month after a strong earnings report wasn't enough to buck the broader fears about an economic slowdown, and the ongoing reopening weighing on stocks that rose during the pandemic like Crocs. Best known for its foam slip-on shoes, Crocs was one of the rare apparel companies that did well during the pandemic as comfort clothing sold briskly.

The company also handily beat estimates in its first-quarter earnings report and raised its guidance, but that wasn't enough to counter the massive broad-market sell-off that took place at the same time. According to data from S&P Global Market Intelligence, the stock finished May down 16%.

Image source: Crocs.

Source Fool.com