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Why SunOpta's Shares Dropped 18.1% on Wednesday

TheMotleyFool

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Why SunOpta's Shares Dropped 18.1% on WednesdayPhoto, wide shot, wide-angle lens, Convenience store, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/35bdb659-cf5a-466a-95a9-428a230a2d2e.png

Shares of plant-based food company SunOpta Inc. (NASDAQ: STKL) fell as much as 18.1% in trading on Wednesday after reporting second-quarter 2021 financial results. Shares closed trading down 6.3% for the day.

Revenue increased 9.7% to $202.3 million in the quarter, driven by a 21.4% increase in plant-based products and offset by fruit-based sales falling 1.9%. The loss from continuing operations was $0.9 million, improving on a loss of $5.1 million a year ago, and net loss was $1.7 million, or $0.02 per share.

Image source: Getty Images.

Source Fool.com

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