Why Coca-Cola Stock Fell 17% in March
Why Coca-Cola Stock Fell 17% in March | NASDAQ. What happened. Coca-Cola (NYSE: KO shareholders underperformed a weak market last month as their stock lost 17% compared to a 12.5% drop in the S&P 500, according to data provided by S&P Global Market Intelligence. Blue chip consumer staples investments like Coca-Cola are often safe havens during market slumps. Yet Coke stock was hurt by worries about a significant negative impact from the COVID-19 outbreak on the business. The company warned in mid-March that plunging consumer traffic at restaurants, plus the cancellation of major sporting events and most forms of public entertainment activities, will likely harm short-term earnings.