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Why are Diageo’s shares down 10% today?

By Chris Bailey | Friday 10 November 2023


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


You all probably know a lot more about Johnnie WalkerGuinnessTanquerayBaileysSmirnoffCaptain MorganCrown Royal and Don Julio drinking realities than me. As a boring teetotal analyst for the last thirty years, I have no idea if they taste nice, make you feel good and the like, but I can see what is popular and respected via the boring old world of supply, demand and pricing power. And on all those fronts, I can fully understand why the company is still seeing its business “momentum continuing in four of our five regions”. What surprises me a little is the chat this morning that, “due to a weaker performance outlook in Latin America and Caribbean”, the company has had to issue a dodgy trading update.
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