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Why Magna International Stock Crashed Today

Why Magna International Stock Crashed Today

When Magna International (NYSE: MGA) warned investors about its upcoming quarterly results on Jan. 24, the stock took a hit. Magna had said its adjusted earnings before interest and taxes (EBIT) margin would be below the 4.8% to 5% range projected in its November 2022 outlook. Magna reported that metric to be under 4.4% for 2022.