SHOP - Investors in These 2 Stocks Are Ready to Revolt
Investors have been worried about the condition of the economy for a while now, and Thursday's stock market action didn't suggest that anyone feels much more confident about what 2023 will bring. Although stocks trimmed their early losses by midday, the Dow Jones Industrial Average (DJINDICES: ^DJI) remained down about 0.5% as of 12:30 p.m. ET today.
Amid the rush of companies releasing their latest financial results, some gave their shareholders big disappointments. Two of the biggest decliners on the day were Boston Beer (NYSE: SAM) and Shopify (NYSE: SHOP) . Below, you'll learn more about what happened to both businesses and why investors don't seem as confident about their prospects for 2023 and beyond as they did before the companies issued their reports.
Shares of Boston Beer were down 14% in early afternoon trading on Thursday. The maker of Sam Adams beer has had to deal with a big change in consumer preferences during 2022 that put the brakes on past growth opportunities.
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Investors in These 2 Stocks Are Ready to Revolt