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Why Clarus Corp. Stock Plummeted on Monday

Dave Kovaleski, The Motley Fool
·2-min read

Clarus Corp. (NASDAQ: CLAR) saw its stock plummet on Monday, as the share price was down roughly 11.5% to $19.70 per share at 3 p.m. ET. The sporting apparel and equipment manufacturer and distributor may have been feeling the aftereffects of last Friday's sell-off that stemmed from Federal Reserve Board Chair Jerome Powell's hawkish speech at Jackson Hole, where he indicated that the Fed would continue to move aggressively to bring down inflation. Reuters reported Monday that the largest investor, Steve Urvan, is seeking to take control of the Ammo board and pivot more toward e-commerce and new other new distribution and manufacturing categories that he believes could push the company past $1 billion in annual sales.

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