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Why Estée Lauder Stock Was Tumbling Today

TheMotleyFool 
0 0 31.10.24
Why Estée Lauder Stock Was Tumbling TodayPhoto, wide shot, wide-angle lens, Specialty food store, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/7a8f69d5-c26e-46d9-b403-d3e5e9562eca.png
 

Shares of Estée Lauder (NYSE: EL) were taking a dive today as the cosmetics giant continued to struggle with weakness in China as the company also cut its dividend and pulled its guidance for the fiscal year, reflecting a lack of visibility into the China situation and a need to reinvest in the business.

The stock was down 19.3% on the news as of 12:38 p.m. ET.

Image source: Getty Images.

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Source Fool.com

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