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Beer stock
Posted on 4/19/20 at 7:11 am
Posted on 4/19/20 at 7:11 am
Suck it if this has already been discussed and you have a problem with it. No, I didn’t use the search feature first. Also suck it if you have a problem with that.
Anywhoo... why did beer stock prices plummet (specifically BUD) just as this lockdown was getting going? Doesn’t it seem like people would be drinking more beer now?
Anywhoo... why did beer stock prices plummet (specifically BUD) just as this lockdown was getting going? Doesn’t it seem like people would be drinking more beer now?
7
Posted on 4/19/20 at 8:12 am to bengaltygers
Basically everything plummeted, many stocks for no tangible reason other than the plummet was market wide. I picked up some BUD too. They might have taken a hit because restaurants/bars they sell to are closed. Can't imagine their retail sales got worse. If anything they got better with more people stuck at home and bored. As soon as restaurants/bars reopen I think their stock price returns
Posted on 4/19/20 at 8:15 am to bengaltygers
Bar closed. Restaurants only doing takeout. Concerts cancelled, sports cancelled, basically any large events selling beer cancelled. Makes sense to me why it would go down.
This post was edited on 4/19/20 at 8:16 am
Posted on 4/19/20 at 8:16 am to bengaltygers
WTF are you talking about? BUD is up 30% the past month. I bought some on the way down about 5-6 weeks ago.
This post was edited on 4/19/20 at 8:18 am
Posted on 4/19/20 at 8:18 am to LSU82BILL
Many production facilities stopped making beer and started making hand sanitizer
Posted on 4/19/20 at 8:57 am to LSU82BILL
Keep going back. At the end of February, it plummeted.
Posted on 4/19/20 at 9:35 am to bengaltygers
The large players in beer have been getting killed by all the small players for a while. There is way more competition now, plus younger generation seems to favor craft beers. Growth has slowed and companies like BUD took on massive debt to acquire other beer companies.
Posted on 4/19/20 at 10:07 am to bengaltygers
quote:
Keep going back. At the end of February, it plummeted.
You mean back when the DJIA was approaching 30,000 before it fell below 19,000 in just 6 weeks?
Posted on 4/19/20 at 11:02 am to bengaltygers
quote:
why did beer stock prices plummet (specifically BUD) just as this lockdown was getting going? Doesn’t it seem like people would be drinking more beer now?
bars, sporting events, and restaurants are closed
Posted on 4/19/20 at 11:50 am to bengaltygers
Everything crashed, even gold and bonds fell. If you bought on the fall then you're looking good right now.
Posted on 4/19/20 at 7:17 pm to bengaltygers
quote:
Anywhoo... why did beer stock prices plummet (specifically BUD) just as this lockdown was getting going? Doesn’t it seem like people would be drinking more beer now?
Well, management cut BUDs dividend 50% this past week, the company has a shite ton of debt, and management DNGAF about share holders. They love to acquire and cut costs to the bone but not put money into its products. I recall them cutting the dividend a few years back too. I'll never own that stock. It is a very similar story to that of KHC which also needs to improve its product lines and pay debt down significantly.
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