Why M.D.C. Holdings Stock Tumbled Despite Stellar Q4 2019 Earnings
Sometimes, a company reports better-than-expected earnings numbers that cause its price to pop: it opens higher and trends upward throughout the day. Other times, the market isn't impressed by the numbers and shares open lower, and continue to fall.
But sometimes the stock market does an abrupt about-face on a company. That's exactly what happened to homebuilder M.D.C. Holdings (NYSE: MDC). As it was announcing strong earnings on Jan. 30, shares were opening about 4% higher, at $48.99/share. Within minutes, it had given up all those gains. It proceeded to lose 8.1% over the next two days.
The kicker? M.D.C.'s numbers were stellar. Here's what's really going on.
Source Fool.com
