Harley-Davidson (NYSE:HOG) news for Friday includes HOG stock dropping as the company heads toward its lowest levels since the recession.
So what exactly is it that has HOG stock taking a dive on Friday? The trouble is likely connected to the coronavirus from China. Many corporations have been seeing their shares fall as investor concerns drive them lower on fears of the viral outbreak.
Of course, it wouldn’t be fair to pin HOG stock’s trouble on solely the coronavirus. The company has been dealing with plenty of other problems. That includes declining sales over the years and the trade war with China. To top it off, CEO Matt Levatich announced last week that he is leaving the company.
While some investors might use this recent weakness to pick up shares of HOG stock cheap, that might not be the best idea. With the ongoing downward trend for the stock, there’s no guarantee it will see a strong climb back up after coronavirus fears and other issues work themselves out, reports The Motley Fool.
While Harley-Davidson might not be the best company to make a bet on during the coronavirus scare, there are others with potential gains. Among these are companies such as Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX). You can follow this link to check out other possible investments to look into during the coronavirus outbreak.
HOG stock was down 6.78% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.