Why Calavo Growers Stock Was Down on Wednesday
Calavo Growers (NASDAQ: CVGW) shareholders had a rough day on Wednesday as their stock dropped 6% by noon, compared to a flat result in the wider market. The decline wasn't enough to push shares into negative territory for the year, but Calavo Growers is still trailing the 12% gain in the S&P 500 so far in 2023.
Wednesday's decline was sparked by the avocado grower's fiscal Q2 results.
Management revealed before the market opened that sales fell 26% in the selling period that ended in late April. Net losses landed at $4 million.
Source Fool.com
