Skip to main content

Boating Shares Suffer in Market Selloff

Adobe Stock

Adobe Stock

Shares in major recreational boating-related companies tumbled along with most U.S. equities yesterday.

The Dow Jones Industrial Average declined more than 1,000 points in its worst single day since 2020. The Wall Street Journal reported that the selloff was triggered by earnings reports from major retailers that stated that the steepest inflation in four decades is eating into profit margins.

The Dow lost 3.6 percent yesterday, and the S&P 500 retreated 4 percent, also seeing its largest single-day percentage decline since 2020. The Nasdaq Composite dropped 4.7 percent.

Recreational marine companies fared even worse. Malibu Boats shares fell 8.74 percent, Brunswick Corp. was down 8 percent, and Polaris lost 7.86 percent. Marine Products Corp., the parent of Chaparral and Robalo, was down 5.32 percent, and MarineMax was down 6.79 percent.

European stock markets, U.S. futures and crude oil prices were all lower this morning. The Wall Street Journal reported that investors have become more worried that efforts to battle inflation may bring a recession.



Marine Travelift Launches Co-op Program

The company received its first student, a University of Wisconsin engineering major, in the seven-month paid co-op.


Trade Only Today Returns Tuesday

The e-newsletter will not publish July 4 in observance of Independence Day. We wish everyone a safe holiday weekend.


ORR Announces Federally Funded Projects

The U.S. Economic Development Administration prioritized outdoor recreation for the first time


Ten Ways To Sell in a Tough Economy

These keys to successful selling can help you create customers who keep coming back, even when sales dip


ASA Names New Board Members

The American Sportfishing Association filled two at-large seats and two regional seats on its board of directors.


Dammrich, Hopkinson Partner With Marine Resources Recruitment

The industry veterans will help clients fill executive-suite, marine industry job openings around the world.


DEALERS: How Was Business in the First Half of 2022?

With the second quarter coming to a close, was there parity between the budget and financial performance in the first six months? Take the Pulse Report survey here.


Passagemaker Relaunches Podcast

Trawler Talk aims to connect with those who are interested in the cruising lifestyle, with episodes dropping every other week