Sweetgreen slumps on TD downgrade
Sweetgreen fell by about 6% in early trading after TD Cowen downgraded the salad chain from “buy” to “hold” and set its price target at $15.
The pricey salad company, which has failed to turn a profit in the more than 10 years it’s been in business, is down more than 50% this year. Its competitor, Cava, jumped on Tuesday amid bullish options activity.