Here's Why Yum China Stock Dropped Today

Certain metrics fell in the latest quarter, but the company is promising some good things for the year.Shares of restaurant company Yum China (YUMC -6.42%) -- parent company of KFC, Pizza Hut, and more in China -- dropped on Tuesday after it reported financial results for the first quarter of 2024. The company grew sales by opening new restaurants, but sales at existing restaurants fell, which was not something investors cared for. As of 10 a.m. ET, Yum China stock was down 6%, but it had been down 10% earl ...