Why WK Kellogg Stock Plunged 32% Last Month
Shares of WK Kellogg (NYSE: KLG), a recent spin-off of what was formerly Kellogg, plunged 31.7% in October, according to data provided by S&P Global Market Intelligence. The launch of the new entity happened on Oct. 3, and reception from Wall Street was cold, leading to the stock's deep plunge in value.
In fairness, there were questions left unanswered when WK Kellogg was spun off from Kellogg, including how much its dividend would be. And that's a big deal in this case, because many of the investors attracted to a breakfast cereal investment are looking for stability and income.
However, it seems investors' questions about WK Kellogg are getting answered in November, which may set it up for a better month than what it had in October.
Source Fool.com
Kellogg Co. Stock
Currently there is a rather positive sentiment for Kellogg Co. with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 66 € shows a positive potential of 25.05% compared to the current price of 52.78 € for Kellogg Co..
