Why Traeger Sank by Almost 16% Today

Investors rained on pellet grill maker Traeger's (NYSE: COOK) barbecue on Tuesday, pushing the company's stock price down by nearly 16% despite the fact that Traeger notched beats on both the top and bottom lines in its latest quarter.

Immediately after market hours Monday, Traeger released its third quarter figures. These showed that total revenue landed at $162 million for a nearly 12% year-over-year improvement. In contrast, on the bottom line the company flipped to a non-GAAP (adjusted) net loss of $6.5 million ($0.06 per share) from Q3 2020's $24 million profit.

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Source Fool.com