Investors sold off the shares in Fleetwood Corp yesterday (which makes caravans, recreational vehicles (RVs) as well as affordable housing) after it slashed its 2017-18 profit guidance by more than 50%.
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When we recommended you AVOID Fleetwood on 17 December 2012, the market was expecting Fleetwood’s future to resemble a past that had been built on a once in a century mining boom. All that has changed – and so, of course, has the share price, which is now down 75% since then and more than 80% since its peak. Since we upgraded the stock to SPECULATIVE BUY on 27 March 2014 when it was trading at $2.54, it has fallen a further 10%.