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Clorox stock being flushed as cleaning frenzy wanes
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The Clorox Company – whose bleach products flew off the shelves at the beginning of the coronavirus pandemic in 2020 – has seen a steady decline in its stock price over the past year or so, leaving the company in third place for the worst performance on the S&P 500 for the past 12 months.
When COVID-19 presented itself in the U.S. early last year, the CDC recommended Americans wipe down surfaces like doorknobs and packages in order to stop the spread of the virus using disinfectant sprays or wipes. Soon, Clorox wipes and other cleaning products were gone as soon as they were stocked, sparking nationwide shortages.
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