Canada Goose tumbles the most in 11 months after downgrade on value

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Canada Goose had its biggest drop in almost a year after Wells Fargo cut its rating on the stock to market perform.Christinne Muschi/Bloomberg

Canada Goose Holdings Inc. had its biggest drop in almost a year after Wells Fargo cut its rating on the stock to market perform, citing a less compelling valuation and a slowdown in popularity on the web.

Analyst Ike Boruchow said in a note to clients Thursday that Google searches and Instagram engagement for Canada Goose slowed over the holiday season. He also sees global brand valuations facing pressure from risks in China, a slowdown in Europe, foreign currency headwinds and sluggish tourism.

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