Magna (MGA) Hits 52-Week Low: Should You Still Hold the Stock?
MGAMagna(MGA) ZACKS·2024-06-11 04:00

Shares of auto equipment supplier Magna International (MGA) slipped to a 52-week low of $43.44 per share in the last trading session on June 7, before closing a tad bit higher at $43.76. Year to date, Magna has lost 26% of its value, underperforming the industry’s decline of 15%. Meanwhile, the S&P 500 index has risen 12.4% over the same timeframe.Image Source: Zacks Investment Research What’s Dragging Down MGA Stock?Investors seem to be disappointed with the company’s earnings miss in the last two quarters ...