Procter & Gamble stock slides 1.24% and underperforms competitors
Updated
Updated · MarketWatch · May 7
Procter & Gamble stock slides 1.24% and underperforms competitors
11 articles · Updated · MarketWatch · May 7
Shares closed at $146.06 on Thursday as the S&P 500 fell 0.38% and the Dow Jones Industrial Average dropped 0.63% in a broadly weak market session.
The decline ended a two-day winning streak, leaving the stock 14.58% below its 52-week high of $170.99 reached on May 30.
Peer moves were mixed but also negative, with Johnson & Johnson, Estee Lauder and Colgate-Palmolive all falling, while Procter & Gamble trading volume of 6.8 million stayed well below its 50-day average.
P&G just posted strong earnings but is cutting 7,000 jobs. Is the company preparing for growth or bracing for a downturn?
With more price hikes planned, will consumers finally abandon iconic brands like Tide for cheaper alternatives?