Why Hibbett Sports Stock Plunged 21% in August
Shares of Hibbett Sports (NASDAQ: HIBB) tumbled 21.2% last month, according to data from S&P Global Market Intelligence, as the sporting-goods chain continues to struggle with falling sales and mounting losses.
After falling 12% in April and 11% in May following ill-received first-quarter results, Hibbett's downturn accelerated when it reported another poor showing in the second quarter. The stock plummeted more than 30% in a single day in July after Hibbett shocked investors by preannouncing a 10% decline in Q2 comparable-store sales, brought about by "very challenging sales trends."
Many investors were caught off guard by Hibbett Sports' poor second-quarter results. Image source: Getty Images.
Source: Fool.com
Hibbett Sports Inc. Stock
€81.50
0.000%
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Hibbett Sports Inc. stock is not clear.
With a target price of 90 € there is a slightly positive potential of 10.43% for Hibbett Sports Inc. compared to the current price of 81.5 €.
