Gage Roads Brewing Co Limited (ASX: GRB) has been omitted from the All Ordinaries Index (Index: ^AORD) (ASX: XAO) as part of the S&P Dow Jones Indices quarterly shake-up, following its disastrous performance over the last five weeks or so.
In that time, the stock has more than halved in value, driven in large part by a disappointing earnings report. The company reported an 8% decline in overall sales for the reporting period – caused by a "category-wide softening of the beer market" as well as its inability to stock store shelves on time for the peak sales period. The company's new warehousing strategy also impacted sales temporarily.
Source: Google Finance
Meanwhile, it also reported a 19% decline in sales of its proprietary products through major customer Woolworths Limited (ASX: WOW), which is a cause for concern amongst investors. While Gage Roads Brewing Co is not a stock for the fainthearted, it could be worth a second look at today's price of 7.3 cents. Otherwise, The Motley Fool's top analysts have just named an even more appealing growth stock worth checking out today.
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