Why Shares in Hayward Holdings Sank Today
Shares in pool and spa equipment company Hayward Holdings (NYSE: HAYW) had declined as much as 10% as of 1 p.m. ET on Monday. The decline comes as the company announced its preliminary fourth-quarter results on a down day for the market on the whole.
It's not often that investors get to view a set of fourth-quarter earnings containing a 60% increase in net sales as disappointing. Still, after a great run, the market's been in sell-off mode recently, and any slight negative is being magnified into a reason to sell. In this case, it's the sales and earnings numbers from the preliminary results.
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Source Fool.com
