Why Goodyear Tire Stock Fell Today
Goodyear Tire & Rubber (NASDAQ: GT) has been in the fast lane for most of 2023, but nothing went right for the company in the just-completed second quarter. Shares of Goodyear traded down as much as 22% on Thursday after the company posted an unexpected quarterly loss. Goodyear lost $0.34 per share on an adjusted basis in the second quarter on revenue of $4.87 billion, missing analyst expectations for a $0.16-per-share profit on sales of $5.18 billion.