Why NewAge Stock Fell 11% Today

The stock of NewAge (NASDAQ: NBEV) fell hard on Wednesday, dropping 11% by 11:45 a.m. EST. The organic and health foods specialist announced third-quarter results that left investors wanting more.

Sales were up 59% to $100 million in the period that ended in late September. Wall Street pros were expecting much faster gains, with sales rising to about $123 million. Revenue roughly doubled in the second quarter, after all.

NewAge also reported a larger net loss than expected.

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Source Fool.com