NEW YORK (TheStreet) -- Investors have been fleeing Dreamworks Animation SKG (DWA - Get Report) as its hot How to Train Your Dragon 2 franchise produced only lukewarm results on the sequel's opening weekend.
The animated sequel drew $50 million in the domestic U.S. over the past weekend, falling short of projections that the movie would gross north of $60 million. The miss in revenue led Dreamworks' share price to sharply drop nearly 12% from $27.35 on Friday to the mid-$24 range Monday and Tuesday.
DWA data by YCharts Why Zillow's Rich Barton Believes in ‘Power to the People’ Priceline Was a Winner for Investors Even Before OpenTable Buy Red Hat Stock Ahead of Earnings Before It Gets Red-Hot Obama the Stock Picker? His Ideas Work for Elon Musk of Tesla At the time of publication, the author had no position in any of the funds mentioned. Follow @macroinsights This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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