The stock price rallies initially after the announcement but loses 75 points, or 23% of its value, over the next few weeks in anticipation of and following the revised earnings release date.
Wall Street Horizon alerts clients that Tapestry Inc.(formerly Coach Inc.) announced a postponement of Q4 2017 earnings from AUG 8, 2017 to AUG 15 2017.
Share prices bounced around in a range for a couple of days, but ended up losing 9.3% following the postponement announcement.
The postponement announcement sent jitters through the market and the stock declined 16% in anticipation of the re-scheduled earnings announcement.
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