Aramark Stock Appears to Be Down Big Today: Here's What's Really Going On

(NYSE: ARMK) has spun off its uniform and workplace supply unit into a new company. The deal is done, but some stock-tracking services have been slow to adjust, which is causing Aramark shares to appear to be down nearly 30% on Monday morning.

Long-term investors need not worry about the drop.

Aramark has established itself as a key vendor to universities, sports teams, and large companies, providing uniforms, cleaning services, venue management, and food services to a wide range of venues. But the company is in the process of streamlining, and last year, it announced plans to hive off its uniform business into a separate publicly traded company.

Source Fool.com