Pandora Is Having an Absolutely Horrible Year on the Stock Market

The share price of Danish jewelry maker Pandora A/S has fallen more than 50 percent this year, including a 12 percent decrease on Dec. 12.

Last week’s plunge followed a warning by Carnegie, a brokerage, to its clients to be ready for a rough fourth quarter and 2019, Bloomberg reports.

In all, Pandora’s market value has fallen by about $7 billion this year, bringing the company’s value to less than $5 billion. At its peak about two years ago, Pandora’s value was $18 billion, Bloomberg notes.

The last time Pandora had a year this bad in terms of stock performance was 2011. The company’s markekt value fell by 84 percent that year.

So why the terrible year?

Per Hansen, investment economist with Nordnet in Denmark, says Pandora “doesn’t just need better sales momentum and a complete overhaul in terms of the cost side,” according to Bloomberg.

Rather, Hansen says, it “also needs to find itself again and stabilize the downward spiral.”

Read more at the Bloomberg