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Why Party City Stock Was Crashing Today

TheMotleyFool

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Why Party City Stock Was Crashing TodayPhoto, wide shot, wide-angle lens, Clothing manufacturer, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/4c710447-f68a-47bc-a682-c2d83e801596.png

Shares of Party City (NYSE: PRTY) were diving today after the nation's biggest party supplies retailer posted a disappointing earnings report for the first quarter and slashed its guidance for the year. The report also added to fears that Party City could be forced into bankruptcy because of its heavy debt burden.

As of 1:15 p.m. ET, the stock was down 61.1%.

Image source: Getty Images.

Source Fool.com

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