SodaStream Stock Plunges by 20%
Soda, Scarlett and Me: CEO Daniel Birnbaum poses with SodaStream home beverage machines — and superstar spokesperson Scarlett Johansson. Image by getty images
SodaStream stock tumbled by more than a fifth of its market value on Tuesday, with earnings and a revenue warning to blame for the slide.
SodaStream estimated third-quarter revenue below market expectations, citing weak demand in the United States, and its shares fell as much as 21.6 percent.
They were last trading down 20.9 percent at $21.80, with volume more than 2.7 times the average of the past 10 days.
The Israeli home beverage maker has seen its share price tumble dramatically by about 60% this year.
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