10/5/2023: Coke and Pepsi Stocks Crashed to 52-week Lows
What's happening?
Something unusual is happening. Coke and Pepsi stocks both crashed ~5% to 52-week lows today. These two are consumer staples dinosaur dividend stocks so this is highly unusual. We can try to rationalize why this is happening like people moving away from dividend stocks, inflation or even Ozempic but it’s a fool’s errand trying to explain stocks’ movement. Nonetheless, this is still very odd. Last time movements like this happened was in March 2020. Does anyone have any good explanations why this is happening?Â
Have a look at dollar general. Should be a recession defensive name. The market too me looks starved for liquidity and only a handful of popular tech names are getting any love from the dwindling number of interested retail investors.