Why Hasbro Stock Plunged 24% in February
Hasbro's (NASDAQ: HAS) stock price fell by 24.2% last month, according to data provided by S&P Global Market Intelligence.
On Feb. 11, Hasbro delivered mixed results for its holiday quarter, which ended Dec. 29. While the toy company handily beat earnings expectations, its sales of $1.43 billion were slightly below Wall Street analysts' consensus estimate of $1.44 billion.
The combination of lower-than-expected revenue and rising fears about the impact that the COVID-19 epidemic might have on the company's supply chain sent its shares tumbling. Hasbro is particularly sensitive to this outbreak, since two-thirds of its products are sourced from China.
Source Fool.com
