Steve Madden (SHOO) furloughs a majority of employees. Stock plummets to 4 years low.

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Steven Madden, Ltd. (NASDAQ: SHOO), probably the best known to many of you speculators as the star of the The Wolf of Wall Street movie, today released a document saying that the Company “experienced significant disruptions to our business and operations as a result of the COVID-19 pandemic.”

And due to this new event Steve Madden furloughed a majority of their employees, including a portion of finance staff while remaining personnel are working remotely.

ANd because of this Steve Madden, Ltd. is “unable to timely comply with their filing obligations “. Due to COVID-19, Steven Madden, Ltd. is filing this Current Report on Form 8-K to report that it is postponing the filing date of its Quarterly Report on Form 10-Q for the first quarter ended March 31, 2020.

SHOO stock price going down.

Shares of SHOO stock opened at $22.43 on Friday. The firm has a market cap of $1.8B and the future is not looking bright.

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