Sell Alert: Whirlpool (WHR)
Whirlpool Corp. (WHR 187.50) is falling today after London investigators concluded that the Grenfell Tower fire started in a Hotpoint fridge freezer, manufactured by a subsidiary of Whirlpool. Crista Huff, Chief Analyst of the Cabot Undervalued Stocks Advisor picked up the story earlier today and issued a sell advisory to her subscribers.
The manufacturer of the external cladding on the building will also be held accountable after the cladding failed safety tests. Both Whirlpool and the cladding maker could face severe penalties after 79 victims died in the tragedy. It’s too early to determine Whirlpool’s liability, but the investigation and settlements could take many months.
I recommend selling your WHR shares now.