Why Sprouts Farmers Market, Inc. Stock Fell 17.2% in August
Shares of Sprouts Farmers Market Inc. (NASDAQ: SFM) declined 17.2% in the month of August, according to data provided by S&P Global Market Intelligence, after Amazon.com (NASDAQ: AMZN) completed its acquisition of Whole Foods Market.
Of course, Sprouts investors had known of the impending deal since June, when Amazon initially revealed its plans to buy Whole Foods for $13.7 billion. But the threat effectively escalated on Aug. 28, when Amazon closed on its purchase and wasted no time implementing drastic price reductions on dozens of Whole Foods' most popular products.
IMAGE SOURCE: SPROUTS FARMERS MARKET.
Source: Fool.com