Domino’s (ASX:DMP) share price falls 6% on its worst day since February

Friday hasn’t been kind to the Domino’s share price.
The post Domino’s (ASX:DMP) share price falls 6% on its worst day since February appeared first on The Motley Fool Australia. –

The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is struggling more than most today amid a broader market sell-off.

The significant dip has brought about Domino’s worst day since 23 February 2021, when the company’s stock fell a whopping 8.8% on its ex-dividend date.  

The pizza franchise was approaching the payment date for an 88.4 cent dividend at the time. Today, there’s no such explanation for Domino’s struggles.

At the time of writing, the Domino’s share price is trading at $150.11, 6.45% lower than its previous close. This dip is significantly worse than the slippage the broader market is experiencing today. Right now, the S&P/ASX 200 Index (ASX: XJO) has fallen 2% while the All Ordinaries Index (ASX: XAO) is down 1.9%.

Let’s take a closer look at Domino’s share price performance on the ASX today.

Domino’s plummets on Friday

The Domino’s share price is tumbling 6.48% on Friday despite no news released by the company.

This makes it the worst unexplained fall Domino’s stock has experienced since November 2020.

Interestingly, the 11.1% plunge Domino’s stock underwent on 10 November coincided with news that Pfizer’s now famous COVID-19 vaccine had achieved positive early results.

Perhaps Australians stuck at home saw lockdowns as the catalyst for Domino’s stock’s surge through 2020.

Of course, as the pandemic took a hold of most aspects of people’s lives in 2020, many ASX-listed stocks suffered immensely.

However, the Domino’s share price gained 60% over the course of 2020.

It appears the market saw the increase in the amount of people eating takeaway pizza as a sure sign of Domino’s strength in the face of the pandemic.

However, Domino’s poor performance on the ASX today remains unexplained.

Domino’s share price snapshot

The Domino’s share price’s gains didn’t end alongside 2020.

Since the start of 2021, Domino’s stock has gained 70%. It is also 88% higher than it was this time last year.

The post Domino’s (ASX:DMP) share price falls 6% on its worst day since February appeared first on The Motley Fool Australia.

Should you invest $1,000 in Domino’s Pizza right now?

Before you consider Domino’s Pizza, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Domino’s Pizza wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Which ASX shares are set to finish the week as the top movers on the ASX 300?

Top brokers name 3 ASX shares to buy today

2 hot ASX growth shares that this income fund manager favours

Why CSL, Domino’s, Temple & Webster, & Xero shares are tumbling

Domino’s (ASX:DMP) share price slips amid management restructure

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 Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!