Keep your eyes on ADP stock. Due to coronavirus? Down due to the coronavirus? Or is it something else. Only time will tell.
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The stock is over valued anyways. Sitting at 100 would be accurate but not close to 200. Not until they stop their bleeding from loss of product knowledge and running overly thin thinking its okay to do so.
ADP's stock seems to be sliding faster than the market average slide due to coronavirus. That suggests to me that the fruitless removal of the knowledge base at ADP in an effort to replace with cheap no skilled millennials is starting to have effects. Pumped up ADP stock price is getting deflated like Tom Brady's footballs!
Aha, so it IS because of the coronavirus. Okie dokey.
The market is reacting to the corona virus. There’s no point in speculating further on this stock.
Still going down as of today.