Why PepsiCo Stock Withered on Wednesday
Like any trade dispute, the current one between the U.S. and some of our most high-profile trading partners is affecting companies disproportionally. Those affected by the goods slapped with levies are facing struggles, while those unaffected can breathe a sigh of relief.Unfortunately for PepsiCo (NASDAQ: PEP), it is in the former category. Compounding that, on Hump Day it was also buffeted by a recommendation downgrade. As a result, its share price fell by nearly 3% on a day when the S&P 500 index recovered by notching a 0.5% gain.Reuters reported that a group of top American food and drink makers formally requested that President Donald Trump exempt a range of comestible inputs from the current round of tariffs. These ingredients include such items as cocoa, used in the manufacture of chocolate, and fruit.Continue reading
Like any trade dispute, the current one between the U.S. and some of our most high-profile trading partners is affecting companies disproportionally. Those affected by the goods slapped with levies are facing struggles, while those unaffected can breathe a sigh of relief.
Unfortunately for PepsiCo (NASDAQ: PEP), it is in the former category. Compounding that, on Hump Day it was also buffeted by a recommendation downgrade. As a result, its share price fell by nearly 3% on a day when the S&P 500 index recovered by notching a 0.5% gain.
Reuters reported that a group of top American food and drink makers formally requested that President Donald Trump exempt a range of comestible inputs from the current round of tariffs. These ingredients include such items as cocoa, used in the manufacture of chocolate, and fruit.
