Why Big 5 Sporting Goods Is Plunging 14% Today
Shares of Big 5 Sporting Goods (NASDAQ: BGFV) were tumbling nearly 14% in morning trading Tuesday on no specific company news beyond a broader market rout that may have investors taking profits after a big run-up in the stock. As tech stocks plunge, causing the market indexes to wobble, profit-taking may be the name of the game. Big 5 Sporting Goods has benefited from the surge in interest in outdoor recreation that gripped consumers in the wake of the COVID-19 pandemic -- a heightened appreciation for the great outdoors that doesn't look like it's diminishing anytime soon.
