Why Hain Celestial Stock Fell 12.5% in October

Hain Celestial (NASDAQ: HAIN) stock fell 12.5% in October, according to data from S&P Global Market Intelligence, as speculation about the company being bought out waned and a ratings downgrade from BMO Capital spurred sell-offs.

Image source: Hain Celestial.

Hain Celestial stock posted big gains over the summer, as the company emerged from an accounting review and audit conducted by the Securities and Exchange Commission with favorable findings. With regulatory issues out of the way, shares climbed on the possibility of the company being acquired, but lost ground in October as the related excitement abated.

Source: Fool.com