Nasdaq Plunges, RV Shares Mixed
The Nasdaq composite plunged Tuesday to its lowest level in 26 months after stock traders received reports that consumer confidence was weaker this month than it has been in four years.
The Nasdaq fell 101 points, or 4.4%, as investors bet the Federal Reserve will not be able to prevent a recession.
Meanwhile, the Dow Jones Industrial Average was essentially unchanged. It declined 6 points, or 0.05%, on Tuesday.
RV company stocks were mixed but two larger RV manufacturers, Fleetwood and Monaco, saw their stock prices fall more than 5% on Tuesday. Fleetwood declined 68 cents, or 5.2%, to close at $12.37. Monaco declined $1.15, or 5.5%, to close at $19.80.
Heading in the opposite direction Tuesday was Holiday RV Superstores, which gained 3/8, or 9.1%, to close at 4 1/2.
Here is a roundup of the other RV stock price activity Tuesday:
Winnebago gained 13 cents to close at $17.75
Thor declined 45 cents to close at $24.70
Coachmen declined 13 cents to close at $11.30
National RV declined 15 cents to close at $10.85
Skyline gained 12 cents to close at $24.47
SMC was unchanged at 3 1/4
Rexhall was unchanged at 6
Kit was unchanged at $3.75
Coast Distribution was unchanged at 75 cents
Featherlite was unchanged at 2
Spartan Motors gained 1/16 to close at 3 1/4
Starcraft gained 15/32 to close at 2 3/8