10 Stocks Investors Dumped Fast

6. Primo Brands Corporation (NYSE:PRMB)

Primo Brands saw its share prices decline by 6.10 percent on Monday to close at $29.56 apiece as investors sold off positions following the payout of cash dividends.

On Monday, shareholders of Primo Brands Corporation (NYSE:PRMB) received a $0.1 dividend for each share of the company.

However, Monday’s drop reflected cautious trading across the broader market pending concrete developments from the ongoing US-China trade talks.

Last week, Primo Brands Corporation (NYSE:PRMB) earned a “buy” recommendation from Bank of America, with a price target of $42, or a 42-percent upside from its last closing price.

According to Bank of America, the optimistic outlook was based on expectations that shares of Primo Brands Corporation (NYSE:PRMB) will appreciate over the next 12 months “as it delivers cost synergies ($300mm of EBITDA by 2026).”

If the current multiple holds, this should lead to enterprise/equity value accretion,” the investment firm said.