Why Oatly Stock Tumbled 16.2% in June
Shares of Swedish oat milk manufacturer Oatly Group (NASDAQ: OTLY) were down 16.2% in the month of June, according to data provided by S&P Global Market Intelligence, as the company established a CEO succession plan.
Oatly has been plagued with production issues that have prevented it from capitalizing on growing consumer demand for oat milk that it is largely responsible for creating. Because it has not been able to keep pace with consumer demand, Oatly has slipped from the market leader into second place while other rivals aim to take further share from it.
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Source Fool.com
