Capri Holdings Ltd (CPRI)

Capri Holdings Limited Stock (CPRI) dropped by 3.63% from $50.66 to $48.82 in the trading on Tuesday November 7, 2023. The reason why CPRI stock down today is due to the Tapestry acquisition. The U.S. Federal Trade Commission (FTC) has sent requests to Tapestry and Michael Kors owner Capri Holdings for more information on their planned $8.5 billion deal. In August, Tapestry warned of weak profit and sales in fiscal 2024 as increased cost of living and still-high inflation has pressured American budgets, denting demand for luxury brands.