Why NCR Corp. Stock Slumped on Friday
NCR Corp. (NYSE: NCR) shareholders lost ground to a falling market on Friday. The stock dropped 22% by 2 p.m. ET, compared to a 1.3% drop in the S&P 500. The drop pushed shares further into negative territory for the year. NCR is down over 40% since the start of 2022.
Friday's drop was sparked by news that the company isn't selling itself but instead will split into two separate companies.
NCR announced late on Thursday that it is separating into an ATM business and a digital commerce business, rather than controlling the two under one enterprise. The news effectively ended speculation that NCR will be taken public, which had pushed the stock higher earlier in the year. NCR had announced back in February that it was reviewing its financial options, including a total sale.
Source Fool.com
