Why Dollar Tree Stock Slipped Lower Last Month
Shares of discount retailer Dollar Tree (NASDAQ: DLTR) fell by 16.8% in September, according to data from S&P Global Market Intelligence. The owner of the Family Dollar and Dollar Tree brands posted weak earnings and lowered guidance for its full fiscal year in the month, leading investors to sell off the stock. As of this writing, the stock is in a drawdown of over 60% and sits at a market cap of just $15 billion.
Here's why Dollar Tree fell yet again in September.
On Sept. 4, Dollar Tree reported earnings for the second quarter of its fiscal year. Shares plummeted after the announcement. Why? Because management revised down its earnings and revenue guidance for the full year.
Source Fool.com
