The reason behind whole Foods markets crash

Posted On: 2017-06-19

The whole Foods market shares fell last week after the organic grocer feuded with an activist investment group and after a rival dropped its earnings guidance.

Whole Foods stock was down 6.6% in afternoon trading.

The decline followed whole Foods CEO John Mackey spoke of activist investors Jana Partners as “greedy bastards” for pushing for a sale of the chain and trying to destroy his reputation. The charge may have thrown cold water on the opportunity of a sale. Investors seemed to like the idea as the stock originally surged when Jana’s stake was disclosed.

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