Why Oatly Stock Tanked on Tuesday
Shares of Oatly Group (NASDAQ: OTLY) were down by 13% as of 1:33 p.m. ET Tuesday after the plant-based dairy company reported its second-quarter results. Revenue growth accelerated from the first quarter to a rate of 21.8% year over year, but investors were looking for more. Absent the impact of foreign currency changes, Oatly's top line would have increased by 30%.