PepsiCo (PEP) Stock Plunges 1.87% to 2020 Low
PepsiCo's (PEP) stock price fell to its lowest level since June 2020 today, with an intraday decline of 1.87%.
The strategy of buying PEP shares after they reached a recent low and holding for 1 week yielded moderate returns over the past 5 years, with a 5.56% annualized return. This suggests that the strategy captured some of the subsequent upward movement in the stock price, although the returns were relatively modest.Unusual options activity has been observed for PepsiCo, with a negative sentiment reflected in net trade sentiment falling to $2.53 million. This indicates a bearish outlook among traders, which could contribute to the recent decline in the stock price.
Investment short positions on PepsiCo have reached a 52-week low, suggesting that some investors are covering their short positions. This could indicate a stabilization or recovery in investor sentiment, potentially mitigating further declines in the stock price.
