Sweetgreen Stock: Buy, Sell, or Hold?
Sweetgreen (NYSE: SG) has taken its investors on a wild ride since its IPO on Nov. 18, 2021. The fast-casual restaurant chain went public at $28, and it started trading at $52 before closing at a record high of $53 the following day. At the time, the market was dazzled by its rapid growth. The buying frenzy in growth stocks amplified those gains.
But by March 27, 2023, Sweetgreen's stock had sunk to its all-time low of $6.31. The bulls retreated as its same-store sales growth decelerated, its losses widened, and rising interest rates compressed its valuations. Inflation also rattled the restaurant sector as investors fretted over higher commodity and labor costs.
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Source Fool.com
