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LVMH's stock price has fallen 37% year-to-date, dropping its market capitalization out of Europe's top ten.
LVMH (Moët Hennessy Louis Vuitton) shares have fallen approximately 37% this year, returning to their pandemic lockdown levels. On Tuesday, the stock dropped 2.6%, shrinking its market capitalization to €201 billion (approximately $232 billion), slightly below L'Oréal, and causing it to fall out of the top ten European listed companies for the first time since 2017. Vincent Juvyns, Chief Investment Strategist at ING Bank in Brussels, stated that LVMH's decline indicates that its main growth engine—the luxury goods industry—has stalled.
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