Macy's Falls To 6-Year Low After Q1 Miss

Macy's Inc M shares are trading lower by $4.00 (13 percent) at $25.34 in Thursday's session.

The catalyst for the huge decline is a Q1 miss of a dime along with a sales miss of $220 million.

After a much lower open, Macy's stock managed a brief pop to $27.00 before continuing its descent lower. It has continued to make lows for the session, with the current one standing at $25.22. Its current low coincides with its October 6, 2011, low of $25.28.

Based on the daily charts, there may be limited support in the issue down to its October 4, 2011, low ($24.38) if the rapid decline continues.

Loading...
Loading...
M Logo
MMacy's Inc
$12.11-2.14%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
15.25
Growth
89.62
Quality
Not Available
Value
95.34
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Comments
Loading...