Why Sweetgreen Stock Plummeted by Nearly 15% This Week
Food safety concerns negatively affected sentiment on the company.
Overview
Mr. Market didn't have much of an appetite for Sweetgreen (NYSE: SG) stock over the past few days. The salad-focused healthy cuisine restaurant chain operator fell out of favor due to increasingly stern warnings about the current outbreak of the cyclospora parasite, which has been linked to lettuce.
No cases have been reported at any Sweetgreen restaurant, but since it's a salad purveyor, investors were spooked anyway. According to data compiled by S&P Global Market Intelligence, the company's stock tumbled by almost 15% over the course of the trading week.
Details
The federal government's Centers for Disease Control and Prevention (CDC) issued its first Health Alert Network advisory last week. Since then, healthcare authorities have issued several updates indicating that cyclospora is spreading.
Source
Originally published at www.fool.com.