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The company's share price had eroded by nearly 4% at market close, due in no small part to an analyst's rather assertive price-target cut. ... who reduced his price target on LVMH's Europe-listed ...
After the company published a disappointing revenue update, investors assertively traded out of its stock. At the close of the day's action, it had lost almost 8% of its value.
The new deal reduced the amount paid per share by LVMH from the original price of $135 to $131.50. [47] LVMH completed the purchase of Tiffany in January 2021. [48] Under Arnault's leadership, LVMH has grown to become the largest company by market capitalization in the eurozone, [49] with a record of 313 billion euros ($382 billion) as of May ...
Latest update: December 24, 2024: Current list details; Wealthiest: Elon Musk [1] Net worth (1st) US$ 447.0 billion (as of December 11, 2024) [1] Number of billionaires 500: Total list net worth value US$10 trillion (as of December 11, 2024) [2] New members 0: Bloomberg Billionaires Index: The Daily Ranking Of The World's Top 500 Richest
The company saw the price of its U.S.-listed shares dip by over 3% on the day, while the bellwether S&P 500 index crept up to close 0.1% higher. A major surprise in France
Shares of LVMH fell as much as 8% Wednesday after the luxury goods conglomerate said revenue growth in the third quarter was much slower than in the first half of the year.
In March, Bernard Arnault was the world’s richest person—with $48 billion more to his name.
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