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Gap stock falls after Morgan Stanley downgrades the retailer’s shares

Yahoo Finance Video

Yahoo Finance's Brad Smith reports on why Gap stock is dipping today.

Video transcript

BRAD SMITH: And everyone, we want to check in on a trending ticker today. That is Gap, ticker symbol, GPS. And this is falling after Morgan Stanley downgraded the apparel retailer's stock. The underweight from equal weight saying that it expects margins for Gap and other mall-based specialty retailers to revert back to the declining path seen pre-pandemic. Right now, shares are seen down by a little more than 6% year-on-the-day. Past six months down by about 40% over that time.