Why SunOpta Stock Jumped to a New 52-Week High Today
Shares of SunOpta (NASDAQ: STKL) rose on Thursday after the food company reported financial results for the second quarter of 2022, even hitting new 52-week highs of $11.47 per share early in the day. As of 12:20 p.m ET, the stock was trading below this high but was still up 21% for the session.
SunOpta sells food products like frozen fruit, nondairy milk substitutes, and more. In Q2, the company generated revenue of almost $244 million, up 20.4% from the same quarter last year.
The star of its Q2 report was its plant-based segment, which saw 31% year-over-year growth. This growth is noteworthy considering its plant-based revenue was up 21.4% in the second quarter of 2021, making for an impressive two-year growth rate. And it stands in stark contrast to its fruit-based sales, which were only up 7.4% in Q2 this year and down 1.9% in Q2 last year.
Source Fool.com
