Mattel Inc (MAT)

Mattel, Inc. Stock (MAT) dropped by 7.61% from $20.11 to $18.58 in the trading on Thursday October 26, 2023. The reason why MAT stock down today is due to a disappointing outlook. Household budgets appear to be tightening as rising interest rates make it more expensive to buy things. Wall Street is concerned that Mattel benefited from a one-time bump in Barbie sales coming off a successful movie launch in the quarter that won't repeat going forward. Despite strong sales in the Barbie franchise, Mattel didn't raise its full-year revenue outlook. Instead, it held its guidance consistent with previous expectations for fiscal 2023 sales to be comparable with last year's $5.4 billion.