Why SunOpta (STKL) Shares Are Trading Lower Today
What Happened? Shares of plant-based food and beverage company SunOpta (NASDAQ:STKL) fell 20% in the morning session after the company reported underwhelming earnings. The company posted revenue of $205.4 million, a 16.6% increase from the prior year, and even raised its sales forecast for the full year. However, investors focused on a significant decline in profitability. SunOpta’s gross profit margin, a key measure of how much profit it makes on each sale, fell to 12.4% from 17% in the same quarter last ...