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Why Boston Beer Stock Was Falling Today

·2 min read
Why Boston Beer Stock Was Falling Today
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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.