Mueller Industries, Inc. (MLI)

Mueller Industries Stock (MLI) dropped by 50.22% from $70.45 to $35.07 in the trading on Monday October 23, 2023. The reason why MLI stock down today is due to the stock split. Mueller announced on Sept. 26 a two-for-one stock split to be effected in the form of a 100 percent stock dividend. Stockholders of record on October 6, 2023 will receive one additional share of common stock for each share of the company's common stock held on that date. The distribution date for the stock split will be October 20, 2023.

MLI's stock fell 9.89% after the company reported worse-than-expected second-quarter revenue results. Operating costs were unfavorably stressed due to the impacts of several nonrecurring events.

https://finance.yahoo.com/news/mueller-industries-inc-reports-second-110000659.html