Net worth tracking
Login Sign Up
Become a Premium Member
  • All Opinions
  • Top Picks
  • Experts
  • Companies
  • Discover
Watch List
Home » Daily

Food stocks grilled on weak outlooks

Allan Tong Posted On October 29, 2019
0
0
Shares
  • Share On Facebook
  • Tweet It

The TSX and American indices dipped slightly on Tuesday, except Nasdaq which fell o.59% as earning season continued. Two food stocks got grilled. Beyond Meat was burned for 22.22% after restrictions on selling 80% of it shares was lifted on Monday, even though the stock turned its first-ever profit.

There were also fears of rising competition and an announcement of lower prices on its celebrated meatless products in order to compete. Even worse, Grubhub plunged 43.30% after issuing a terrible forecast and missing earnings. Profits dropped 94%. The company blamed “promiscuous customers” who kept bouncing to other competitors for food (not any other appetite). Alphabet didn’t fare nearly as bad, down 2.12% after an earnings miss.

Similarly, Canadian tech juggernaut Shopify slid 3.17% after it reported a surprise earnings loss in the face of increased spending up to US $1 billion to expand its network, including fulfillment centers across the States. Its shares have fallen nearly 25% since its late-August high of $543.76. Tuesday wasn’t only about bad news. Despite ongoing strikes, GM was actually up 4.28% after an earnings beat. However, the strikes casts an ongoing cloud over the carmaker’s future earnings.

🥩 Beyond Meat Inc. -22.22%
🛺 GrubHub Inc -43.30%
🌐 Alphabet Inc. / Google (GOOG-Q) -2.12%
🏂 Shopify Inc. -3.17%
🚘 General Motors Corporation +4.28%

0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Intertape Polymer Group and More at 52-week Highs & Lows (Jun 22-28)
Melisa R. H. June 29, 2022
Reitmans, Medmira Inc More Earnings Reports this Week (Jun 27-Jul 01)
Melisa R. H. June 27, 2022
You may also like
Get Ready for MTY, QSR and Canadian Stocks to Shine Through the Earnings Fog
April 14, 2020
Canada’s Most Surprising Stocks of 2019
December 17, 2019
Trade hopes push markets to record highs again
December 12, 2019
Read Next

Rates down, markets up, Starbucks, Facebook and Apple beat

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Top Reviews

    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
    • The Ugly Truth About Identity Theft – Free Credit Report
      7
  • Popular Posts

    • Intertape Polymer Group and More at 52-week Highs & Lows (Jun 22-28)
    • Reitmans, Medmira Inc More Earnings Reports this Week (Jun 27-Jul 01)
    • Air Canada, Shell plc and 19 Stock and 1 ETF Top Picks (Jun 17-23)
    • 3 defensive stocks to find stability with your money
    • Markets slide on recession fears
  • Stock Lists

    • 3 defensive stocks to find stability with your money
      June 21, 2022
    • 3 rock stars of the mineral stocks
      June 15, 2022
    • 3 stocks to profit from revenge travel
      June 7, 2022
    • Are tech stocks alive?
      May 31, 2022
    • 3 dividend stocks to fight inflation
      May 24, 2022


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search