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Why Investors Are Running From Garmin Stock Today
Garmin (NYSE: GRMN) this morning reported record first-quarter revenue that jumped 11% year over year. Bottom-line profits grew even faster at 13%. The maker of GPS-enabled devices even boosted revenue guidance for the year.So investors might be wondering why the stock plunged by as much as 12.6% Wednesday morning. While it recovered some of that drop, Garmin shares were still down by 9% as of 3:15 p.m. ET.Garmin adventure watch with flashlight. Image source: Garmin.Continue reading
Garmin (NYSE: GRMN) this morning reported record first-quarter revenue that jumped 11% year over year. Bottom-line profits grew even faster at 13%. The maker of GPS-enabled devices even boosted revenue guidance for the year.
So investors might be wondering why the stock plunged by as much as 12.6% Wednesday morning. While it recovered some of that drop, Garmin shares were still down by 9% as of 3:15 p.m. ET.
Garmin adventure watch with flashlight. Image source: Garmin.
