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Hard seltzer boom goes flat

The hard seltzer boom goes flat: Boston Beer saw $3 billion of market cap evaporate due to disappointing sales of spiked fizzy drinks, @rob_cyran says.

7/23/2021 7:55:00 PM

The hard seltzer boom goes flat: Boston Beer saw $3 billion of market cap evaporate due to disappointing sales of spiked fizzy drinks, rob_cyran says.

The hard seltzer boom is losing fizz. Boston Beer ’s (SAM.N)second-quarter results released Thursday tasted as bad as a Truly Pineapple drink left open overnight. Net income fell by almost 2% compared with the same period last year. That wiped off about a quarter, or $3 billion, off the company’s value.

3 minute readCans of AB InBev's Bud Light hard seltzer are seen next to White Claw at Jewel-Osco supermarket in Chicago, October 21, 2020. REUTERS/Richa NaiduNEW YORK, July 23 (Reuters Breakingviews) - The hard seltzer boom is losing fizz. Boston Beer’s

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second-quarter resultsreleased Thursday tasted as bad as a Truly Pineapple drink left open overnight. Net income fell by almost 2% compared with the same period last year. That wiped off about a quarter, or $3 billion, off the company’s value.Boston Beer’s bubbliest market has several leaks. Fewer new people are starting to drink hard seltzer, with a 7% increase in household penetration so far this year compared to 73% in the same period in 2020, said Chief Executive David Burwick. As the pandemic wanes, more people are going out, where beer still reigns.

Read more: ReutersBreakingviews »

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Reuters rob_cyran Just add a sweetened cordial with carbonated water...don't buy these rubbish. This way you can control your sugar. Reuters rob_cyran No shit, they’re terrible. Reuters rob_cyran This trend should have just ended with Zima. Reuters rob_cyran I can’t understand why people like these beverages, but then again I think LaCroix tastes like tin.

rob_cyran Because they're trash? rob_cyran Is it possibly because everyone has realised that they're flavourless guff?

Boston Beer stock tumbles 26% after weak Truly hard seltzer sales weigh on earningsShares of Boston Beer tumbled 26% in morning trading after disappointing demand for hard seltzer dragged down the company's quarterly earnings and revenue. This is what Mike Lindell drinks before he does a video about MyPillow or Donald Trump. The entire hard seltzer category is overpriced. White Claw will have an equally epic collapse.

Boston Beer stock tumbles 26% after weak Truly hard seltzer sales weigh on earningsShares of Boston Beer tumbled 26% in morning trading after disappointing demand for hard seltzer dragged down the company's quarterly earnings and revenue. This is what Mike Lindell drinks before he does a video about MyPillow or Donald Trump. The entire hard seltzer category is overpriced. White Claw will have an equally epic collapse.

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