RH stock sinks after CEO warns of impact from housing

Yahoo Finance Video
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Shares of RH fell sharply in early trading after the company's CEO Gary Friedman (RH) warned that his company will be feeling the impact from the ongoing woes in the housing market, including mortgage rates are at a 20-year high. RH reported second quarter results that beat on both the top and bottom lines, but guidance fell a little short of estimates. Julie Hyman and Brad Smith breakdown the latest with RH's stock price, its current performance, and its forecast for the third quarter.