Why Dollar Tree, Inc. (DLTR) Crashed On Wednesday

We recently published a list of Investors Are Dumping These 10 Stocks. In this article, we are going to take a look at where Dollar Tree, Inc. (NASDAQ:DLTR) stands against other worst-performing stocks on Wednesday.

Dollar Tree saw its share prices decline by 8.37 percent on Wednesday to end at $88.62 apiece as investors took profits following yesterday’s gains, likely influenced by comments from its competitor’s chief executive that they have seen an increasing number of middle- to high-income class customers during the past quarter.

Despite reporting impressive earnings performance on Wednesday, the drop in share prices of Dollar Tree, Inc. (NASDAQ:DLTR) suggested that investors have already priced in the news.

A day after Dollar General’s comments, Dollar Tree, Inc. (NASDAQ:DLTR) said that it has likewise recorded higher-income customers shopping at its stores.

In the first quarter of the year, Dollar Tree, Inc. (NASDAQ:DLTR) grew its net income by 14.4 percent to $343.4 million from $300.1 million in the same period last year.

Revenues also increased by 10 percent to $4.6 billion from $4.17 billion year-on-year.

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Disclosure: None. This article is originally published at Insider Monkey.