Stock Story -
What Happened: Shares of agricultural and farm machinery company AGCO (NYSE:AGCO) fell 8.9% in the pre-market session after the company reported second-quarter earnings results. Its revenue and EPS missed analysts' expectations. The company also dropped its full-year revenue and EPS guidance, citing weaker farmer income and commodity prices. Overall, this was a bad quarter for AGCO Corporation.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy AGCO Corporation? Find out by reading the original article on StockStory, it's free.
What is the market telling us: AGCO Corporation's shares are somewhat volatile and over the last year have had one move greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
AGCO Corporation is down 20.6% since the beginning of the year, and at $96.98 per share it is trading 27.3% below its 52-week high of $133.33 from July 2023. Investors who bought $1,000 worth of AGCO Corporation's shares 5 years ago would now be looking at an investment worth $1,208.
![Why AGCO Corporation (AGCO) Shares Are Plunging Today](https://d68-invdn-com.investing.com/content/picd8d0906aba2175f0f6d4bd2d9e5acfba.jpeg)