Could Sweetgreen Be a Millionaire-Maker Stock?
The stock market continues to set new records and artificial intelligence (AI) stocks are booming for the third year in a row, but Sweetgreen (NYSE: SG) has been headed in the opposite direction this year.
Shares of the fast-casual salad slinger are now down 77% as seemingly everything is going wrong for the brand.
After a year of solid growth in 2024, Sweetgreen's comparable sales have turned negative through the first half of the year as the company dealt with wildfires in its home market of Los Angeles in the beginning of the year; a broader downturn in restaurant spending due to concerns about inflation, tariffs, and a weakening labor market; and a transition in its loyalty program that seems to have caused some temporary headwinds.
Source Fool.com
