Sector Update: Consumer Discretionary Stocks Sinking This Afternoon

Last Updated: Friday, September 23, 2022 1:32 PM | MT Newswires

Consumer stocks were broadly lower in Friday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) dropping 1.7% and the SPDR Consumer Discretionary Select Sector ETF (XLY) retreating 2.5%.

In company news, Splash Beverage Group (SBEV) slumped over 30% after the flavored tequila bottler Friday priced a $3.1 million public offering of 2 million shares at $1.55 each, or 20.1% under its last closing price.

Yeti Holdings (YETI) fell 4.7% after the outdoor equipment company Friday began the search for a new chief financial officer to succeed Paul Carbone, who will step down Oct. 28 and relocate to Boston as he seeks a business opportunity allowing him to be closer to his family.

EBET (EBET) was sinking 7%, reversing a more than 11% early gain, after the online gambling company Friday announced an exclusive sportsbook and casino wagering agreement with Metagames Marketing, providing EBET with media placements on television, radio and movie theaters with the potential to reach as many as 138 million people in 11 Latin American countries in exchange for an unspecified share of its sportsbook and casino games net revenues.

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