Boston Beer Is Drowning in Hard Seltzer
Boston Beer (NYSE: SAM) is wallowing in hard seltzer. The brewer went all in on the effervescent alcoholic beverage as consumer drinking preferences shifted away from beer, but the bubble burst on the trendy drink and Boston Beer had to dump "millions of cases" of its Truly brand of seltzer.
The sudden and dramatic reversal of fortune led it to post a huge net loss in the third quarter, and there's no sign of when or even if consumers will return.
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Source Fool.com
