10 Firms Heavily Hit by Market Pessimism

2. Warby Parker Inc. (NYSE:WRBY)

Warby Parker declined by 12.43 percent on Tuesday to end at $17.82 each as investors sold off positions over concerns about its business amid the ongoing trade war.

Late Monday, Bloomberg Law posted on its social media platform that Warby Parker was one of the companies warning its shareholders that “anti-American consumer sentiment fueled by the Trump administration’s tariff wars poses a business risk.”

In a filing last month, WRBY also said that it was unable to mitigate the full impact of current and future tariffs.

“Costs on a significant portion of our products may increase further, which could reduce our margins or force us to raise prices, and our financial results may be negatively affected. Further increases in China tariffs will impact our business, and our financial results may also be impacted by any resulting economic slowdown,” it said.

With a substantial number of components from suppliers in China, the company acknowledged that inventory management may be affected.