The party has seemingly gone sour for the Endeavour Group Ltd (ASX: EDV) share price so far in 2022.
The new year has seen the company’s stock fall 5.6% – wiping out most of its gains for the last 6 months.
At the time of writing, the Endeavour share price is $6.41, 1.54% lower than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.5% today and down 2% year to date.
Let’s take a look at what might be weighing on the retail drinks and hospitality company’s stock lately.
What’s dragging on the Endeavour share price?
While there’s been no news out of Endeavour to explain its recent falls, many of the company’s peers have also been suffering.
The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) has slipped 5% year to date, with some of its constituents’ performances making Endeavour’s drop look like a walk in the park.
For instance, the ARB Corporation Limited (ASX: ARB) share price has tumbled 12% year to date.
In the same time frame, that of Collins Foods Ltd (ASX: CKF) has slipped nearly 10% while shares in JB Hi-Fi Limited (ASX: JBH) are down 7%.
But the Endeavour share price was suffering before New Year’s Eve. It had a turbulent December and ultimately fell 1.6% over the course of last month.
That’s despite no news having been released to the ASX since August. There also hasn’t been much news of the company hitting headlines.
Though, its brand, Langston’s, did help break a new record recently. It held an auction in December wherein a bottle of Penfolds Grange from 1951 sold for a whopping $157,624, making it the most expensive bottle of Australian wine ever sold.
Fortunately, the Endeavour share price is still 6% higher than it was at its first close on the ASX following its demerger from Woolworths Group Ltd (ASX: WOW) in June 2021.
The post What’s causing headaches for the Endeavour (ASX:EDV) share price in the new year? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ARB Corporation Limited and Collins Foods Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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