Why Cracker Barrel Stock Dropped Like a Rock Today

The company today announced that it's going to invest money to fix its business. Consequently, it's cutting its dividend by 80% so it can afford everything. Investors didn't like that, and it's why shares are down. Can Cracker Barrel turn it around? I'm not sure the decision is necessarily surprising. I've personally expected a dividend reduction for some time. But investors still didn't like it now that it's here. This dividend payer is drastically reducing its payments because it needs money to fix its bu ...