Kellanova (K)

Kellogg Company Stock (K) dropped by 11.78% from $59.51 to $52.50 in the trading on Monday October 2, 2023. The reasons why stock K is down today includes:

• Spinoff of WK Kellogg: Kellogg made its cereal business, WK Kellogg, separate from the company on October 2, 2023. This made Kellogg's business smaller, and some investors might be selling their Kellogg shares because of this change.
• Concerns about the snack food industry: Kellogg mainly sells snacks, and right now, the snack food industry is dealing with a few problems like costs going up and maybe not as many people wanting snacks. These issues could be making Kellogg's stock price go down.