Why Were Investors Disappointed with WD-40 Company Stock Performance in April?
Monday, 6 May 2024, 20:06
Understanding the 11% Stock Drop in April
The stock is down even though its profit guidance is looking up. Shares of WD-40 Company (NASDAQ: WDFC) dropped 10.7% in April, according to data provided by S&P Global Market Intelligence. And I admit that the downward move is a head-scratcher.
Management's Strategic Shift
- WD-40 refocuses on core maintenance products
- Decision to divest from other home-use brands
Investors' Concerns and Valuation
Trading at about 47 times its trailing earnings, WD-40 isn't a bargain stock by a long shot. The stock is rarely what I'd call cheap.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.