Clorox Shares Slide After Company Says Cyberattack Hit Sales Hard

Clorox shares plummeted over 8% after the company disclosed that a cyberattack in August had a significant impact on sales and profits for the previous quarter. This resulted in the stock hitting a 52-week low and experiencing a year-to-date drop of more than 13%. Despite Clorox's efforts to contain the hack and restore operations, Raymond James downgraded the stock, expressing doubt about a swift rebound in sales and profits amid a climate of cost-conscious consumer choices and rising commodity prices.