Why Catalent Stock Was a Disaster Today
The struggles of contract drugmaker Catalent (NYSE: CTLT) continued on Monday, leading to a big sell-off in the company's stock. Investors were heavily discouraged by their company's latest update, and in response traded the shares down by almost 26% on the day. In its press release on the matter, Catalent said that the delay stems from its discovery of certain noncash adjustments connected with its operations in Bloomington, Indiana.