I love Sweetgreen, but buying this company at IPO seems like a bad idea...

"Last year, Sweetgreen lost $142 million on revenue of $220 million in 2020. The loss was more than double the $67 million it reported for 2019. That year, losses also doubled from $33 million in 2018, despite the company telling _Forbes_ at the time that it was profitable, one of many startups that appear to have exaggerated its profitability."

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Joshua Simka's avatar
The Forbes article throws up a paywall for me so I'm not sure how detailed they get on Sweetgreen, but let's be clear that "exaggerated its profitability" is spin for "lied about its profitability." CEO Jonathan Neman apparently made several false claims to media, which for me means that the numbers would be only part of my reason for not investing in this one. Sounds like management is its own cause for concern. Though I, too, like eating at Sweetgreen. :)

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Sidni Standard's avatar
@tomato great point!! Disingenuous management is more of a red flag than anything else
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