Closing 3% lower yesterday than where they ended the abbreviated trading session on Friday, shares of Generac Holdings (NYSE: GNRC) started the week on an inauspicious note -- one it's continuing today. As of 9:55 a.m. ET, shares of Generac are down 2.6%, recovering from their earlier decline of 4.8%. Advising investors that Generac Holdings faces headwinds from the disruptive nature of bidirectional charging in electric vehicles (EVs), Saree Boroditsky, an analyst at Jefferies, downgraded the stock from hold to underperform and reduced the price target to $85 from $95, according to The Fly.
With another six weeks to go before we say goodbye to 2022, the S&P 500 is rallying to pull itself out of bear market territory. While no one likes to see their portfolio in the red, market corrections make for unique opportunities to buy stocks at a discount and ride them to new heights in the bull market that will invariably follow.
A huge day for most stocks lifted two beaten-up industrials, but a recent winner has turned into a big loser.