Why Toy Stocks Like Hasbro, Mattel, and Funko Were Plunging Today
Shares of Hasbro (NASDAQ: HAS), Mattel (NASDAQ: MAT), and Funko (NASDAQ: FNKO) were getting crushed today as investors reacted to President Donald Trump's announcement of reciprocal tariffs last night.Consumer discretionary stocks are getting hit especially hard since many of these products are imported from abroad, and consumers don't need to buy them. Toys are an especially discretionary category so it wasn't surprising to see shares of Hasbro, Mattel, and Funko all falling sharply today.The S&P 500 finished Thursday down 4.9%, while Hasbro had lost 12.3%, Mattel was down 16.6%, and Funko had given up 18%.Continue reading
Shares of Hasbro (NASDAQ: HAS), Mattel (NASDAQ: MAT), and Funko (NASDAQ: FNKO) were getting crushed today as investors reacted to President Donald Trump's announcement of reciprocal tariffs last night.
Consumer discretionary stocks are getting hit especially hard since many of these products are imported from abroad, and consumers don't need to buy them. Toys are an especially discretionary category so it wasn't surprising to see shares of Hasbro, Mattel, and Funko all falling sharply today.
The S&P 500 finished Thursday down 4.9%, while Hasbro had lost 12.3%, Mattel was down 16.6%, and Funko had given up 18%.
