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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.

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