Why Sweetgreen Stock Lost 21% in October
Shares of Sweetgreen (NYSE: SG) were among the losers last month, even as there was no major news out on the fast-casual salad slinger.
Instead, a growing sense of malaise around consumer spending in the economy and downbeat reports from peers like Chipotle Mexican Grill pushed the stock lower. Wall Street also took a dimmer view of the stock over the course of the month.
According to data from S&P Global Market Intelligence, Sweetgreen shares finished the month down 21.2%. As you can see from the chart, the pullback came mostly at the end of the month as data showed consumer sentiment weakening, and it fell after Chipotle's earnings report came out, which served as a warning sign for the broader fast-casual industry.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
€30.79
3.470%
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