Why Shares of Rentokil Plummeted Today

Rentokil's latest trading update really bugged the market. Shares of global pest control and hygiene service provider Rentokil Initial (RTO -20.48%) have plummeted 20% as of 1:45 p.m. ET Wednesday, according to data provided by S&P Global Market Intelligence. Providing a trading update earlier this morning, Rentokil warned that its organic revenue growth in North America for the second half of 2024 would only equal roughly 1%, missing management's previous guidance for 2% to 4%. Why is the market so worried ...