Why Betterware de Mexico Stock Plunged Today
Shares of Betterware de Mexico (NASDAQ: BWMX) were falling today after the Mexican e-commerce company posted disappointing results in its third-quarter earnings report, with organic sales falling sharply in the quarter.
As a result, the stock was down 11.7% as of 1:20 p.m. ET.
The company, which sells home goods online in Mexico, said that revenue in its core Betterware division plunged 37% to $75.1 million, as it cited a softer-than-expected economic environment, weak consumer spending, demand normalization as the pandemic fades, and headwinds in discretionary spending.
Source Fool.com
