Sotheby's Stock Takes 6% Hit
Analyst downgrade doesn't match usual indicators; Vancouver Art Gallery gets $40m boost; Art is attraction at Las Vegas's The Palms and Hudson Yards
Sotheby’s Stock Falls 6% on Analyst’s Downgrade
Cowen’s Oliver Chen released a note earlier today linking Sotheby’s to lower expectations of global growth for 2019. The note provoked a 6% slide in Sotheby’s stock which had been on a month-long rally from its low of $36 on Christmas Eve.
"We believe supply gathering is key to Sotheby's success and a combin…