Tapestry’s stock fell 12.7% after reporting Q3 results that missed expectations. Revenue was $1.70 billion, with GAAP earnings of $1.28 per share. Despite a 21% increase in constant currency revenue, investors may have been expecting more. The stock’s drop presents a possible buying opportunity for quality stocks.

President Trump’s comments on China’s rare earth metals control caused market volatility, impacting leisure industry stocks sensitive to economic sentiment. China’s new export controls on critical minerals raised concerns over escalating tariffs affecting consumer spending on discretionary goods and services, potentially impacting company revenues.

Tapestry’s shares are up 48.6% YTD but still 16.7% below their 52-week high. Investors who bought $1,000 of Tapestry shares 5 years ago would now have an investment worth $4,011. The stock’s recent drop may present an opportunity for interested buyers looking to invest in the luxury fashion conglomerate.

Read more at Yahoo Finance: Why Tapestry (TPR) Stock Is Down Today