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Why Clorox Stock Dropped on Wednesday

TheMotleyFool 
0 0 02.05.24
Why Clorox Stock Dropped on WednesdayPhoto, wide shot, wide-angle lens, Home decor store, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/1f534af1-8f1f-47f4-aa9f-66269ecafb79.png
 

Clorox (NYSE: CLX) investors were seeing red on Wednesday morning. The consumer staples stock fell 6% in early morning trading while the S 500 declined just 0.3%. That drop added to a tough period for shareholders, with Clorox down 16% in the past full year compared to a 20% surge in the wider market.

Wednesday's early decline came after management updated its 2024 outlook following another tough quarter on sales.

Clorox said in a premarket earnings report that sales fell in the fiscal third-quarter period that ran through late March, mainly due to a cyberattack that disrupted its distribution network. Revenue declined 5% and organic sales rose 2%. These metrics were up 16% and 20% in the previous quarter, respectively.

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Source Fool.com

Clorox Co. Stock

€93.94
0.640%
The Clorox Co. stock is trending slightly upwards today, with an increase of €0.60 (0.640%) compared to yesterday's price.
With 15 Sell predictions and only 2 Buy predictions the community sentiment for Clorox Co. is rather negative.
With a target price of 91 € there is a slightly negative potential of -3.13% for Clorox Co. compared to the current price of 93.94 €.
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