Whole Foods Market Lower For Fifth Day In A Row

Whole Foods Market WFM shares are trading lower by $1.50 at $31.02 in Wednesday's session. It has fallen from its June 8 close ($35.15) to the $31 over the last five days. Its retreat from the $35 area was already in motion, when the company announced its had received a warning letter from the FDA. That news, which came out late in the day on June 14, added to the momentum from Monday's loss of $0.82, and was the catalyst for a $0.97 decline on Tuesday. After a lower open, it could not come close to Tuesday's close ($32.52), peaking at $31.94 before continuing its move lower. So far it has reached $30.84 and is not far off that level. The current low coincides with its May 20 low ($30.85).