Why Vail Resorts Plummeted 30.5% in March
Shares of Vail Resorts (NYSE: MTN) tanked 30.5% last month, according to data from S&P Global Market Intelligence. That brought the stock from $213 per share all the way down to $148.
Vail Resorts' stock tanked because the company is going through a rough time with the coronavirus outbreak. When the company reported its fiscal second-quarter 2020 results on March 9, it withdrew its previous financial guidance for the year because of the early negative trends it saw in its business and further uncertainty about the spread of the coronavirus.
On March 17, the company announced it was closing all of its North American ski resorts and retail stores for the remainder of the 2020-2021 ski season.
Source Fool.com