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Salad Chain Sweetgreen and Software Firm Face Steep Declines Amid Market Highs
Salad Chain Sweetgreen and Software Firm Face Steep Declines Amid Market Highs
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BTCCSquare news:
While major stock indices reach record highs, Sweetgreen (SG) and an unnamed software company (FIG) are bucking the trend with significant declines. Sweetgreen's same-store sales plummeted 7.6% year-over-year in Q2, with traffic down 10.1%. The salad chain revised its full-year guidance downward, now expecting same-store sales to drop 4-6% and revenue between $700-$715 million.
The software company's struggles stem from an extreme valuation despite its 2.07% gain. Both stocks have seen dramatic falls from their 52-week highs, with Sweetgreen down nearly 80%. Market analysts caution that these declines may not represent buying opportunities, as fundamental challenges persist for both companies.
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