Why Sweetgreen Stock Fell 27% in July
The cyclospora outbreak sent the stock tumbling.
Overview
Shares of Sweetgreen (NYSE: SG) fell sharply in July, primarily due to the cyclospora outbreak linked to lettuce from Taylor Farms.
Though Sweetgreen does not use iceberg lettuce, the ingredient associated with the outbreak, the fast-casual salad chain still experienced a sales downturn due to fears about the outbreak and its focus on salads.
Details
As a result, the stock fell 27% for the month according to data from S&P Global Market Intelligence.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.