These 5 Stocks are Losing Value Today

3. RH (NYSE:RH)

Number of Hedge Fund Holders: 63

RH (NYSE:RH) shares hit a new 52-week low in the pre-market trading session today after the high-end furniture maker once again slashed its revenue outlook for the full year, citing rising mortgage rates and deteriorating sales of luxury homes.

The California-based company expects demand for its products to drop in the second half of the year. RH (NYSE:RH) now anticipates 2022 sales to decline between 2 – 5 percent. Few weeks ago, it projected full-year sales in the range of flat to up 2 percent.

Separately, investment management firm Polen Capital mentioned RH (NYSE:RH) in its first-quarter 2022 investor letter, stating:

“RH is a furniture store company with brand recognition and a unique business model. The company’s stock price fell sharply over the first three months of 2022 despite solid operating results, which resulted in what we believed to be an attractive opportunity to add to our position in the company. We are mindful that, on the margin, the company is certainly experiencing some early impact from record inflation and rising interest rates, and we feel comfortable in both the management team’s ability to navigate these challenges and the power of the company’s brand and its long-term potential.”