3 Years Ago
1 Min Read

WEBR shares tumbled down -13% today. A closer look at what's happening:



Weber Inc - Class A (WEBR) is trading -13% lower at $6.51 today.

  • Withdrew FY 2022 sales and earnings guidance $1.65-$1.80B and Adjusted EBITDA guidance of $140-$180M to "marginally profitable"
  • Weber now expects third quarter sales to be in the range of $525M to $530M, down from consensus of $532.74M. 
  • "market headwinds are expected to continue into the fiscal fourth quarter of 2022."
  • Announced departure of CEO Chris Scherzinger
  • Q3 2022 earnings call expected on Aug 15, 2022.

Weber Inc - Class A has been trading between a 52-week high of $20.2 and a 52-week low of $5.69. The stock has a market cap of $344 Million.

Weber Inc., headquartered in Palatine, IL, is the world’s leading barbecue brand. The company’s founder George Stephen, Sr. established the outdoor cooking category when he invented the original charcoal grill nearly 70 years ago. Weber offers a comprehensive, innovative product portfolio, including charcoal, gas, pellet and electric grills, smokers, and accessories designed to help outdoor cooking enthusiasts discover what’s possible.

Headlines


WEBR Stock Plummets as Weber Parts Ways With CEO
InvestorPlace 07-25-22

CEO Departure, Job Cuts, Dividend Suspension: Read More On Weber''s Latest Update
Benzinga 07-25-22

Weber replaces CEO, warns of layoffs as inflation bites into business
Financial Post 07-25-22

Weber Stock Crashes on Leadership Change, Withdrawn Full-Year Guidance By Investing.com
Investing.com 07-25-22

Weber Appoints CTO Alan Matula As Interim CEO
Nasdaq 07-25-22


As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

hardcore_softie - 5 upvotes - source
Almost a year ago, the most obvious fucking shill ever got on here and was saying to buy the WEBR dip shortly after its IPO because it "was heavily shorted plus it's summer so people are grilling." There was even a bullshit dd post on it here that got a lot of upvotes. Anyway, you guys should buy this WEBR dip. It's summer, people are grilling.

NihFin - 0 upvotes - source
Remember when some guys were shilling WEBR? Well it’s dumping today And the CEO is gone