Business
JB Hi-Fi (ASX:JBH) share price sinks lower on broker downgrade // Motley Fool Australia
The JB Hi-Fi Limited (ASX: JBH) share price is out of form again on Wednesday and is sinking lower.
In afternoon trade the retailer’s shares are down 5% to $44.20.
This means the JB Hi-Fi share price is now down almost 17% from the all-time high it reached just three weeks ago.
Why is the JB Hi-Fi share price sinking lower?
Investors have been selling the retailer’s shares this week amid news that there could soon be an effective COVID-19 vaccine rolled out globally.
As backwards as it might sound, this is being seen as bad news for companies like JB Hi-Fi.
This is because it has been a big winner during the pandemic as investors redirect their spending away from travelling onto entertainment and homewares.
It was for this reason…
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