10 Stocks Kick Off Trading Week With Losses

2. Sweetgreen, Inc. (NYSE:SG)

Sweetgreen, Inc. (NYSE:SG) dropped its share prices by 9.49 percent on Tuesday, ending the trading session at $24.61 apiece as investors repositioned their portfolios ahead of the company’s release of 2024 earnings performance on February 26.

In particular, investors adjusted their portfolios amid news that its subscription experiment, Sweetpass which it attempted to offer two years ago, is coming to an end. The abandonment of the program particularly signaled challenges to the company in finding a scalable business model to boost growth.

According to reports, SG is set to discontinue subscription programs and launch a new loyalty program called SG Rewards, a free program that will allow guests to earn points for every dollar spent.

News reports quoted SG CEO Jonathan Neman as saying that the company is now focused on having more direct relationships with customers.

“Loyalty is going to be a big piece of this puzzle,” he said.