- Retailer cut from JPMorgan top stocks list, downgraded by Citi
- Stock closed down 9.1% to the lowest level since May 2020
Lululemon Athletica Inc. shares dropped to their lowest level in four years as analysts raised fresh concerns about the company’s ability to hit financial targets due to ongoing product execution issues and slowing active wear trends.
Shares sank 9.1% on Thursday to close at the lowest level since May 2020, after the retailer said it was halting sales of a product line it just introduced. The stock has fallen 52% this year, and is on pace for its worst annual performance since 2008, according to data tracked by Bloomberg.
Lululemon has paused