Why Gildan Activewear Stock Plunged 28.4% in October
Shares of Gildan Activewear (NYSE: GIL) plummeted 28.4% in October, according to data from S&P Global Market Intelligence, after the clothing company announced disappointing third-quarter 2019 results and significantly reduced its full-year outlook.
To be clear, Gildan's formal third-quarter report didn't hit the wires until Oct. 31. But the stock tanked nearly 26% on Oct. 18 alone, the first trading day after the company released a preliminary update in advance of its final results.
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Source Fool.com
