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Why Dollar General Stock Tumbled on Tuesday
A recommendation downgrade from a veteran investment bank had a predictable effect on Dollar General (NYSE: DG) stock Tuesday. Investors put the company in the bargain bin by trading it down by more than 1% on the day. That didn't contrast well with the S&P 500's (SNPINDEX: ^GSPC) gain of over 1%.The institution behind the move was Goldman Sachs, whose analyst Kate McShane lowered her rating on Dollar General to neutral -- at a price target of $116 per share -- from her preceding buy. Image source: Getty Images.Continue reading
A recommendation downgrade from a veteran investment bank had a predictable effect on Dollar General (NYSE: DG) stock Tuesday. Investors put the company in the bargain bin by trading it down by more than 1% on the day. That didn't contrast well with the S&P 500's (SNPINDEX: ^GSPC) gain of over 1%.
The institution behind the move was Goldman Sachs, whose analyst Kate McShane lowered her rating on Dollar General to neutral -- at a price target of $116 per share -- from her preceding buy.
Image source: Getty Images.
