Why AutoZone Stock Sank 21% In May
Shares of AutoZone (NYSE: AZO) sank 21% in May, according to data from S&P Global Market Intelligence. Despite the broader market soaring, retailers such as AutoZone have struggled in recent quarters due to rising inflationary costs and unimpressive growth. AutoZone once again disappointed investors when releasing quarterly earnings in May, sending the stock lower.
Here's why AutoZone stock tumbled last month, and whether now is a good time for investors to buy the dip.
AutoZone released its earnings for the quarter ending May 9th in late May. Revenue grew 8.4% year over year to $4.84 billion, slightly missing Wall Street expectations.
Source Fool.com
