Why Camping World Holdings Sank 10% Today
Shares in recreational vehicle (RV) maker Camping World Holdings (NYSE: CWH) closed Wednesday down roughly 10%. The drop seems to be on no company-specific news, though competitor Winnebago Industries (NYSE: WGO) reported its fiscal fourth-quarter results today.
Winnebago posted strong quarterly results. It said revenue jumped 39%, earnings per share rose 45%, and cash flow from operations more than doubled compared to the year-ago period. But shares of Winnebago were also down more than 10% today.
The COVID-19 pandemic has led to renewed interest in camping and vacationing with RVs, as people seek more isolation and have been slow to embrace plane travel. Winnebago said it ended its quarter with record backlogs as strong demand continues. So what explains the stocks going down?
Source Fool.com
