Why RH Stock Cratered Today
RHRH(RH) The Motley Fool·2024-06-15 01:24

Management keeps calling this the worst market in three decades.Shares of luxury furniture company RH (RH -17.69%) cratered on Friday after the company reported financial results for its fiscal first quarter of 2024. Management says it's "investing aggressively" in the business during "the worst housing market in 30 years," which is a tough way to inspire investors. As of 11:50 a.m. ET, RH stock was down 18%.RH's profits disappointRH's Q1 ended on May 4. During the quarter, the company generated net revenue ...