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Here is why The Gap Inc. (GPS) stock plummeted on Tuesday?

GPS Stock

GPS Stock

The Gap Inc. (GPS) shares plunged 16.25% in after-hours on Tuesday, November 23, 2021, and closed the daily trading at $19.69. Even in the regular trading session, GPS’s stock lost 1.80%. GPS shares have fallen 9.79% over the last 12 months, and they have moved down 6.19% in the past week. Over the past three months, the stock has lost 14.45%, while over the past six months, it has declined 30.89%.

Let’s see what’s going on with the company?

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GPS latest news

On November 23, 2021, Gap Inc. (GPS) announced its financial results for the fiscal third quarter of 2021 which ended on October 30, 2021.

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Q3 2021 financial highlights

FY 2021 financial guidance

For FY, 2021, GAP is now expecting,

GPS dividend declaration

On November 10, 2021, the Board of directors of Gap Inc. (GPS) authorized the fourth-quarter fiscal year 2021 dividend of $0.12 per share, payable on or after January 26, 2022, to shareholders of record at the close of business on January 5, 2022.

GPS Holiday 2021 Campaign

On October 25, 2021, this holiday season, Katy Perry joined forces with Gap Inc (GPS) to underscore the importance of love, kindness, and acceptance with its new campaign, ALL TOGETHER NOW. Katy’s bringing remix of “All You Need is Love,brings Gap’s modern American optimism to life like never before.

GPS acquired CB4

On October 04, 2021, Gap Inc. (GPS) acquired the New York and Tel Aviv based start-up Context-Based 4 Casting Ltd (CB4).

Context-Based 4 Casting uses cutting-edge AI and machine learning tools to transform retail operations, increase sales and improve the customer experience through predictive analytics and demand sensing. As part of the acquisition, CB4’s team will join Gap Inc. as full-time employees.

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Due to poor financial results, GPS stock had a bad Tuesday, and let’s see whether it can flip the negativity or not on Wednesday?

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