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.
NEW: The Motley Fool’s top growth stock for 2015
These 3 stocks could be the next big movers in 2020
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
*Returns as of 6/8/2020
Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned. You can follow Ryan on Twitter @ASXvalueinvest.
- Coronavirus (COVID-19): 6 charts every Australian needs to see – April 6, 2020 1:46pm
- Innovation through crisis – April 2, 2020 11:48am
- Coronavirus (Covid-19): Why Is Italy’s Fatality Rate So Bad? – March 26, 2020 3:39pm