Waste Management's Stock Dips, Despite Yearly Gain

Waste Management, a Houston-based environmental services giant, has seen its stock drop by around 10% since June, underperforming a broader environmental services fund. Despite a 7.7% year-to-date increase, the stock has fallen by 4.4% over the past year, contrasting with the funds small gain. The stock has traded below its 200-day moving average since early September but has remained above its 50-day average since mid-November, indicating some short-term stability. This comes after the company reported weaker-than-expected third-quarter earnings, with revenue increasing by 15% but still missing analysts expectations. Waste Management also lowered its revenue forecast for fiscal year 2025 due to lower recycled material prices and reduced expectations from its healthcare solutions division.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.