Leggett & Platt stock sheds 2.33% and underperforms peers
Updated
Updated · MarketWatch · May 8
Leggett & Platt stock sheds 2.33% and underperforms peers
9 articles · Updated · MarketWatch · May 8
The shares closed at $10.06 on Friday as the S&P 500 rose 0.84% to 7,398.93 and the Dow added 0.02% to 49,609.16.
It was the stock's second straight daily decline, leaving it 22.62% below its 52-week high of $13.00 reached on 4 February.
Among peers, Somnigroup fell 1.92%, Sleep Number dropped 5.94% and La-Z-Boy gained 0.48%, while Leggett & Platt trading volume of 2.4 million stayed below its 50-day average.
Is Somnigroup buying a strategic asset or catching a falling knife with its acquisition of the struggling Leggett & Platt?
With antitrust hurdles and fairness probes, is Somnigroup's billion-dollar acquisition of Leggett & Platt already on the verge of collapse?