Why Anheuser-Busch InBev Stock Plunged Today
Shares of Anheuser-Busch InBev (NYSE: BUD) fell more than 10% on Monday, as investors grew increasingly concerned with the beer titan's earnings prospects.
Anheuser-Busch InBev is getting hit from multiple angles. Its core beer business, already weakened from surging demand for its competitors' hard seltzer drinks, is now facing an even more menacing threat: COVID-19.
The disease caused by the novel coronavirus is spreading around the world, dampening beer sales in the process. People in China and other countries are going to social gatherings less often, including those at bars and sporting events, where much of Anheuser-Busch InBev's sales take place.
Source Fool.com
