Why Shares in Fastenal Fell 11.5% in January
Shares in industrial and construction wholesale distributor Fastenal (NASDAQ: FAST) fell 11.5% in January, according to data provided by S&P Global Market Intelligence. It's not been a good year for the stock. Indeed, it's down 14% on the year at the time of writing.
The reason for the fall probably comes down to the same negative sentiment that caused the broader market sell-off in January. Investors are worried about a plethora of things right now. If it isn't rising supply chain costs eating into margins, it's increasing raw material costs. If it isn't the resurgence of the coronavirus over the winter, it's the prospect of rising interest rates slowing the economy.
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Source Fool.com
