BUD - Why Anheuser-Busch InBev Fell 12% Last Month
Shares of beverage giant Anheuser-Busch InBev (NYSE: BUD) lost 12.2% of their value in July, according to numbers from S&P Global Market Intelligence . A lackluster second-quarter report is responsible for most of the setback.
The rout actually began in mid-June, with profit-taking in the wake of a strong run-up. In retrospect, though, the selling was warranted. Boston Beer (NYSE: SAM) waved red flags for the entire booze industry after missing its second-quarter sales and earnings estimates; the company's hard seltzer business was particularly disappointing.
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Why Anheuser-Busch InBev Fell 12% Last Month