Why Shares of Five Below Stock Plummeted This Week

The stock is now off 67% from all-time highs. Here's why shares fell yet again this week. This week, on July 16, Five Below put out a press release that caused its stock price to crater. The company announced that its current CEO Joel Anderson has stepped down as CEO. He has decided to become the CEO of PetCo. Kenneth Bull, the chief operating officer, would assume the role as interim CEO. Investors hate management uncertainty, so it is unsurprising to see the stock falling on this news. It is hard to pinpo ...