Big Lots Shares Plunge 27.6% After Analyst Downgrade
Shares of discount retail company Big Lots plunged by 27.6% in morning trading today following a downgrade from Loop Capital analyst Anthony Chukumba. Chukumba downgraded the stock’s rating from Hold to Sell and significantly lowered the price target from $6 to $1. This new price target implies a potential 70% downside from where the shares were trading when the downgrade was announced.
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