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Shares of Oatly Group (NASDAQ: OTLY) were down 10% as of 1:52 p.m. ET on Monday after delivering disappointing third-quarter financial results. Management also guided for lower sales than what was expected for the full year.
After robust demand last year, Oatly has seen demand slow this year, which has sent the stock down 72%.
On the surface, the company's revenue performance wasn't too bad, with constant-currency revenue up 16% year over year. But this was well off the pace of 49% growth in the year-ago quarter.