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Is This Game Over for Hasbro Stock?

Rich Smith, The Motley Fool
·5 min read
Is This Game Over for Hasbro Stock?

It's been nearly a week now since Hasbro (NASDAQ: HAS) dropped a bombshell on the stock market, announcing layoffs, an executive departure, and an earnings warning -- and sending its stock down 8% in a day. On Thursday last week, after trading was safely closed for the day, Hasbro revealed plans to lay off 15% of its global workforce -- 1,000 people -- in an effort to combat the cost of plunging sales at the toys and entertainment conglomerate. The good news is that Hasbro is still -- at least as of fourth-quarter 2022 -- enjoying "strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business."

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