Figs, Dave & Buster's, Offerpad, ThredUp, and Zillow Shares Plummet, What You Need To Know

What Happened?

A number of stocks fell in the afternoon session after the latest University of Michigan survey revealed a sharp drop in consumer sentiment to its lowest level for the year. 

The final March reading fell to 55.3, driven by mounting unease over personal finances following the war with Iran. This pessimism was particularly pronounced among middle and higher-income households. The report highlighted spiking concerns about higher gas prices and volatile financial markets. Furthermore, consumers' short-term inflation expectations surged, with Americans anticipating an average inflation rate of 3.8% over the next 12 months. This decline in confidence is a worrying signal for the economy, as it may lead to reduced consumer spending, which in turn could impact corporate earnings and overall economic growth.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Consumer Discretionary - Apparel and Accessories company Figs (NYSE:FIGS) fell 4.9%. Is now the time to buy Figs? Access our full analysis report here, it’s free.
• Consumer Discretionary - Leisure Facilities company Dave & Buster's (NASDAQ:PLAY) fell 8.7%. Is now the time to buy Dave & Buster's? Access our full analysis report here, it’s free.
• Consumer Discretionary - Real Estate Services company Offerpad (NYSE:OPAD) fell 7.6%. Is now the time to buy Offerpad? Access our full analysis report here, it’s free.
• Consumer Discretionary - Apparel and Accessories company ThredUp (NASDAQ:TDUP) fell 6.2%. Is now the time to buy ThredUp? Access our full analysis report here, it’s free.
• Consumer Discretionary - Real Estate Services company Zillow (NASDAQ:ZG) fell 3.9%. Is now the time to buy Zillow? Access our full analysis report here, it’s free.

Zooming In On Dave & Buster's (PLAY)

Dave & Buster’s shares are extremely volatile and have had 54 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 1 day ago when the stock dropped 11.9% on the news that geopolitical uncertainty and a sharp rise in oil prices weighed on broader market sentiment. 

The S&P 500 dropped by 1%, with the Dow and Nasdaq also seeing declines as conflict in Iran intensified. Tensions around the crucial Strait of Hormuz, a key channel for a fifth of the world's oil supply, pushed global energy prices higher. A barrel of Brent crude oil surged 4.9% to $101.98, a significant increase from its pre-war level of around $70. Rising energy costs can impact consumer spending by reducing disposable income, which often leads to concerns for companies in the retail, travel, and leisure industries.

Dave & Buster's is down 42.7% since the beginning of the year, and at $9.77 per share, it is trading 71.7% below its 52-week high of $34.55 from July 2025. Investors who bought $1,000 worth of Dave & Buster’s shares 5 years ago would now be looking at only $208.48.

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