Reported 1 day ago
Sweetgreen's stock plummeted 12% today in response to President Trump's 'Liberation Day' tariff announcement, with the overall S&P 500 declining by 4.8%. Although most of Sweetgreen's ingredients are sourced domestically, it does rely on some imports, including from Mexico and China. The potential impact of tariffs, coupled with declining consumer confidence, poses risks to discretionary spending, which could further affect restaurant stocks like Sweetgreen. Despite these challenges, analysts believe Sweetgreen's long-term growth prospects remain intact due to its unique positioning in the fast-casual salad market.
Source: YAHOO