Fabrinet Stock Slides 27% Over 8 Straight Down Days
Fabrinet (FN) stock has fallen for 8 consecutive trading days, losing 27.2% over that stretch. That erased about $4.8 billion from the company’s market value, which now stands at about $13.0 billion. The stock closed at $362.69 on Monday, October 19, its lowest close of the past year.
How The Streak Stacks Up Against The S&P 500
Returns for FN and the S&P 500 over the streak and the periods around it, all ending Monday, October 19 and including dividends:
| Return Period | FN | S&P 500 |
|---|---|---|
| 1 Day | -0.2% | 0.4% |
| 8 Days (Current Streak) | -27.2% | -1.4% |
| 1 Month (21 Trading Days) | -6.7% | 0.6% |
| 3 Months (63 Trading Days) | -31.2% | 2.7% |
| Year To Date | -20.3% | 13.4% |
| 1 Year (252 Trading Days) | -12.1% | 17.4% |
Is This Move About Fabrinet Or The Market?
Over the same 8 trading days, the S&P 500 returned -1.4% including dividends, so the slide is mostly Fabrinet’s own story rather than the market’s. Over the past three months the stock is down 31.2%, a window that includes the streak; over the other 55 sessions of that window it was down 5.6%.
What The Numbers Say About The Slide
On the fundamentals, revenue grew 35.7% over the last twelve months, against a median of 17.9% for S&P 500 Information Technology stocks; its operating margin is 10.0%, versus a median of 21.6%; and the stock trades at 27.5 times trailing earnings against a median of 34.2. On these numbers the business looks sturdier than the stock, with revenue growth above the median and a multiple below the median.
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