Newell Brands Stock Just Slid Again — Why the Sharpie Maker’s Turnaround Is Being Tested
Newell Brands Inc. shares fell about 4% in Thursday afternoon trading, reversing the prior session’s gain as investors stayed wary of the Sharpie and Rubbermaid maker’s turnaround. The stock was last quoted at $3.515, down 14.5 cents from Wednesday’s close, while SPY, an exchange-traded fund often used as a proxy for the S&P 500, rose about 0.5%. The move matters because Newell has little room for disappointment. The shares closed Wednesday at $3.66, still about 45% below their 52-week high of $6.64, even after gaining 1.67% that day, according to market data published by MarketWatch.