Tyre maker Michelin stock plunges 11% in steepest one-day fall in 5 years on guidance cut

Tyre maker Michelin stock plunges 11% in steepest one-day fall in 5 years on guidance cut

Michelin's shares fell 11% to €25.53 after the company cut its guidance due to declining North American sales. The operating income forecast dropped to €2.6-€3 billion, and free cash flow expectations were also lowered, reflecting broader market challenges.