Why Kraft Heinz Stock Was Sliding Today
Shares of Kraft Heinz (NASDAQ: KHC) were tumbling today after the packaged food giant said it would split into two companies, effectively unwinding a merger that created the behemoth 10 years ago.
Investors gave a thumbs-down to the deal, as Kraft Heinz stock has badly lagged its peers since the merger, and investors seem unconvinced that a split is the solution. As of 12:16 p.m. ET, the stock was down 6.7%.
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Source Fool.com
