Why Sweetgreen Stock Jumped 45% in May
Sweetgreen (NYSE: SG) stock has plunged over the last year and a half, but investors were willing to give it a second chance last month, and that was enough to send the stock soaring.
Sweetgreen's first-quarter results were disappointing, but its guidance indicated that the company expected its performance to begin to improve starting in the second quarter, and comps got better over the quarter and into April.
The fast-casual salad chain also launched wraps nationally, which have received mostly positive reviews and carry a lower price point than its salads. That was enough to inject some optimism into the stock, and shares were up 45% for the month, according to data from S&P Global Market Intelligence.
Source Fool.com
