Shares of Boston Beer (NYSE: SAM) were down 9.8% as of 12:17 p.m. ET on Friday after the company slashed its full-year earnings guidance. The news follows a sharp slowdown in hard seltzer demand that began last summer, sending Boston Beer's stock price down 51% over the past year. The company warned of slowing demand in hard seltzer in the second-quarter earnings report last July, where its Truly brand is one of the most popular in the market.
Boston Beer (SAM) trims earnings view for 2021. Higher supply-chain expenses and reduced shipment volumes persist as headwinds.
Yahoo Finance Live’s Julie Hyman and Brian Sozzi break down how Boston Beer and Sherwin-Williams are trading lower today.