Why Camping World Stock Crashed Today
Shares of recreational vehicle (RV) company Camping World Holdings (NYSE: CWH) crashed on Friday, after an analyst lowered their price target in a research note. The 2% decline for the S&P 500 wasn't helping either. As of 1:10 p.m. ET, Camping World stock was down 10%.
Truist analyst Michael Swartz has been busily researching the state of the RV market, which led him to lower his target price for Camping World stock. According to The Fly, Swartz lowered his price target from $30 per share to $25 per share.
The crux of Swartz's argument is that slow RV sales can lead to price reductions. And price reductions result in lower profit margins for companies like Camping World. The market was likely far more concerned with this commentary than it was with the lower price target.
Source Fool.com
