Leggett & Platt stock slips 9.41% in grim market session
Updated
Updated · MarketWatch · May 7
Leggett & Platt stock slips 9.41% in grim market session
5 articles · Updated · MarketWatch · May 7
Shares closed at $10.30 on Thursday as the S&P 500 fell 0.38% to 7,337.11 and the Dow dropped 0.63% to 49,596.97.
The decline ended a two-day winning streak and left the stock 20.77% below its 52-week high of $13.00 reached on 4 February.
Trading volume rose to 5.7 million shares, well above its 50-day average of 2.5 million, while rivals showed mixed moves, with Somnigroup down and Sleep Number and La-Z-Boy up.
Amidst plunging profits, is the takeover of Leggett & Platt a strategic rescue or a raw deal for its investors?
Is Leggett & Platt's crisis a canary in the coal mine for the entire US home furnishings industry?