Boston Beer Company posted disappointing second-quarter results
Boston Beer Company Inc (NYSE:SAM) stock is volatile this morning, after the brewing company's second-quarter earnings of $4.39 per share on revenue of $579 million missed analyst estimates. Despite dropping as low as $262.00 in the first few minutes of trading, the equity was last seen up 3.9% at $281.14, on track to snap a seven-day losing streak.
Boston Beer stock's recent dip (and today's earlier price action) brought it closer to its May 28 five-year low of $254.40. Year to date, SAM is currently down 18.8%. It's worth noting that the stock's 14-day relative strength index (RSI) of 16.3 sits firmly in "oversold" territory, which typically precedes a short-term bounce.
The stock's typically quiet options pits are seeming some activity, with the most volume at the August 330 call. In fact, the eight most popular contracts so far are calls. Analysts have yet to chime in, however.