Why PLBY Group Stock Plunged Again Today
Share of PLBY Group (NASDAQ: PLBY), a self-described "pleasure and leisure" company, fell as much as 13% in early trading on Monday. That follows material losses the previous trading day. The stock is now down by around 20% from its most recent peak. Although this could be mere market noise, there are some other things to consider here.
Over the past month, PLBY Group's stock has risen by about 100%. That said, the shares were higher by as much as 150% not too long ago. So there's probably a bit of profit taking going on, given the rapid ascent over such a short period. That said, even after the recent pullback, PLBY Group is still higher by roughly 160% since its early February IPO. Which brings us to the story that's more interesting -- and perhaps more relevant.
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Source Fool.com
