Why Krispy Kreme Stock Is Plummeting Today
Krispy Kreme (NASDAQ: DNUT) stock is sinking in Tuesday's trading. The company's share price was down 8.8% as of 2 p.m. ET, and the S 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) were down 0.3% and 0.2%, respectively, at the same point in the session. Krispy Kreme stock had been down as much as 10% earlier today.
There isn't any business-specific news driving Krispy Kreme's valuation lower today, but the pullback comes on the heels of big valuation gains that were also disconnected from the company's fundamentals and outlook. Krispy Kreme gained attention as a meme stock trade earlier this month, but that momentum has been fading in recent trading.
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Source Fool.com
