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Why Movado Stock Was Slammed on Tuesday

TheMotleyFool

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Shares of fine-watch retailer Movado Group (NYSE: MOV) took a hit on Tuesday. The stock slid as much as 24.6%, but was down 22% as of 12:41 p.m. EST.

The decline followed the release of Movado's fiscal 2020 third-quarter results. Bearishness from investors was likely prompted primarily by the company's worse-than-expected revenue and non-GAAP (adjusted) earnings per share during the period.

Image source: Getty Images.

Source Fool.com

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