In a somewhat ironic and comical move, shares of 1-800-FLOWERS (FLWS) were downgraded by Goldman Sachs today.
Here’s the dish from Smart Money:
Investors in 1-800-Flowers.com (FLWS:Â 6.91, -0.60, -8.0%) got a thorny surprise Wednesday as shares plunged 8% on a Valentine’s Day stock downgrade by Goldman Sachs…
The negative shift, coming from a key Wall Street analyst on one of the company’s busiest days of the year, may have a greater impact that the snow that blanketed the Northeast. Noto wrote that about a third of 1-800-Flowers’ orders are based in the region, which could push up expenses and result in delivery delays.