What happened Shares of Clorox (NYSE: CLX) tanked on Tuesday, and were down 11.4% as of 11:40 a.m. EDT. Demand for disinfecting wipes and bleach products sold mainly under its namesake brand shot up as COVID-19 struck, helping Clorox deliver some stellar quarters. CEO Linda Rendle confirmed the sharp reversal in demand, saying, "Fiscal year 2021 was an extraordinary year for Clorox, with the pandemic putting us through the test of volatility, including rapid changes in consumer demand and inflationary pressure, which is reflected in our fourth quarter results."