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Why Kenvue Stock Tumbled by 13% on Thursday

TheMotleyFool

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Why Kenvue Stock Tumbled by 13% on ThursdayPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

A potential legal headache for consumer healthcare giant Kenvue (NYSE: KVUE) was causing pain for investors on Thursday. Such troubles tend to spook the market; hence the more than 13% sell-off of Kenvue across that trading session. The S&P 500 (SNPINDEX: ^GSPC), by comparison, did much better on the day with "only" a 0.6% decrease.

Until it was spun off into a separate company, Kenvue was part of sprawling pharmaceutical company Johnson & Johnson (NYSE: JNJ). The company has faced tens of thousands of lawsuits over its Johnson's Baby Powder, a once talc-based product that is widely alleged to have caused various types of cancer.

Image source: Getty Images.

Source Fool.com

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