Tractor Supply Gets Plowed After Reporting Preliminary Q1

Tractor Supply Company TSCO shares are trading lower by $4.40 (6.6 percent) at $66.07 in Wednesday's session.

After Tuesday's close, the company reported preliminary Q1 sales and EPS. Although sales will come up just shy of estimates at $1.56 billion, EPS will be well shy of the mark in the $0.45-$0.46 range vs. $0.53 estimates.

After a much lower open, the stock managed only a slight bounce to $67.40 before continuing its descent lower. So far, the ensuing decline has reached $65.75 and has been unable to distance itself from that low. The current low falls in between its November 9 ($63.51) and November 10 lows ($67.31).

The rally off the November 9 low was the result of the Trump victory as the Street speculated the company may benefit from an upgrade in U.S. infrastructure.