Why Zebra Technologies Stock Fell 13% in March
Stock in barcode scanner and data management company Zebra Technologies (NASDAQ: ZBRA) slumped 13% in March according to data provided by S&P Global Market Intelligence. The fall marks a frustrating period for the company. Just when investors thought Zebra might be over the worst of the fallout of the trade conflict with China -- the company has shifted production away from China in order to mitigate tariff costs -- along comes the novel coronavirus to make matters complicated.
At first, management wasn't too concerned.
"Our current expectation is the coronavirus outbreak could have an impact on sales of between $0 and $50 million," executives said during the first-quarter earnings presentation in February. "This expectation is based solely on facts as we understand them to be today." That wouldn't be a bad result at all, considering revenue in 2019 was $4.49 billion.
Source Fool.com
