Here's Why Shares in this Housing Related Stock Slumped in May
JELD-WEN(JELD) The Motley Fool·2024-06-06 20:32
Underexposure to the new housing construction market is hurting this door and window company.Shares in exterior doors, windows, and building products company Jeld-Wen (JELD 1.00%) crashed by 24.3% in May, according to data provided by S&P Global Market Intelligence. The decline came after the company released disappointing first-quarter earnings in early May.Jeld-Wen's challenging 2024In response to the difficult first quarter and challenging conditions in the housing market, management lowered its full-yea ...