Why The Carlyle Group Stock Tanked by Nearly 14% Today
Thursday wasn't an especially inspiring day for the stock market, but it was an exceptional downer for investors of The Carlyle Group (NASDAQ: CG). Shares of the storied financial services company dove by almost 14%, a far worse performance than the 0.7% dip of the S&P 500 index. Carlyle released its first-quarter figures before the trading session opened Thursday, revealing that it earned revenue of $859 million.