ADM Stock Alert: Archer-Daniels-Midland Plunges on CFO Probe

Shares in agriculture processor Archer-Daniels-Midland (NYSE:ADM) plunged 16% over the weekend on a probe of its accounting. Now, ADM stock is down about 19% as of this writing.Chief Financial Officer Vikram Luthar was placed on leave as part of the probe. The problems relate to the company’s $8 billion Nutrition segment. In 2022, Archer-Daniels-Midland reported annual revenue of about$102 billion, per Barron’s.Along with sidelining Luthar, the company cut its 2023 adjusted earnings forecast to $6.90 per s ...