Primo Brands Corp (PRMB). Drops After Dividend Payout

We recently published a list of 10 Stocks Investors Dumped Fast. In this article, we are going to take a look at where Primo Brands Corporation (NYSE:PRMB) stands against other worst-performing stocks.

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).”

A bustling retail supermarket, stocked with a variety of frozen beverages, soft pretzels, and donuts.

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

Overall, PRMB ranks 6th on our list of worst-performing stocks. While we acknowledge the potential of PRMB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.