Ralph Lauren Corp RL shares are only trading lower by $1.30 at $94.13 in Tuesday's session. Before the open, the company announced offered a poor FY 2017 outlook.
As a result, the issue opened nearly $12 lower from Monday's close $96.33 at $86.25. However, that print turned out to be the low. The ensuing rebound took the issue to nearly its closing price, but stopped shy at $96.14.
Today's price action is taking price on much higher than average volume. With one hour to do go, it has traded 6.8 million shares compared with its 20-day average of 2 million.
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