Swedish oat drink giant Oatly saw its shares drop by 24% on the Nasdaq stock exchange last week, despite releasing a promising Q3 2024 earnings report.
In early November, Oatly reported revenue of $208 million for Q3, an 11% increase compared to the same quarter last year. Gross profit nearly doubled year-over-year, reaching $62 million.
However, a week later, Oatly shares hit their lowest price in over a year, closing at $0.61, a 24% decline for the week. Since its IPO in May 2021, Oatly’s stock has lost 97% of its value, down from a peak of over $28.
Read the ATL article here or view Oatly’s financial results for the third quarter here.
Photo: Oatly
