Why Goodyear Tire & Rubber Stock Plunged 15.9% Today

Tire sales are down despite an improving auto market.Shares of Goodyear Tire & Rubber (GT -15.90%) plunged as much as 16.7% in trading on Thursday after reporting second-quarter 2024 financial results. The stock closed down 15.9% on the day.Weak sales hit Goodyear stockRevenue for the quarter was $4.57 billion, down from$4.87 billion a year ago. But the company swung from a loss of $208 million to a profit of$85 million, or $0.30 per share.Earnings on an adjusted basis of$0.19 per share topped analysts' ...