SAM - Why Boston Beer Stock Sank 20% in August
Boston Beer (NYSE: SAM) shareholders lost ground to a rising market last month. The stock dropped 20% in August compared to a 1.2% boost in the S&P 500 , according to data provided by S&P Global Market Intelligence . The slump can be tied directly to waning popularity of hard seltzer brands like Truly.
Boston Beer's slump was in part a reflection of Wall Street digesting management's massive adjustment to the growth outlook. Following late July's earnings report, investors lost a bit of confidence about the company's reading on the industry.
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Why Boston Beer Stock Sank 20% in August