Sweetgreen Stock Slides Friday: What's Driving the Action?

Sweetgreen Inc. (NYSE: SG ) shares are trading sharply lower Friday morning after the fast-casual chain delivered weaker-than-expected second-quarter financial results and faced an analyst downgrade. Sweetgreen stock is showing notable weakness. What’s pressuring SG stock? Financial Results Miss Wall Street Target For the second quarter ended June 28, Sweetgreen reported a net loss of 22 cents per share, missing consensus estimates of a 14 cent loss per share. Total revenue rose 3.8% year-over-year to $192.66 million, coming in below expectations of $194.90 million. Same-store sales fell 6.2%, impacted by a 2% decline in traffic alongside a 4.2% drop in product mix due to higher promotional activity. Additionally, restaurant-level profit margin narrowed to 13.1% from 18.9% in the prior-year period. Following the announcement, TD Cowen trimmed its price target on the stock from $...