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Why B&G Foods Stock Dropped Today

Why B&G Foods Stock Dropped Today

Shares of consumer packaged goods company B&G Foods (NYSE: BGS) dropped on Wednesday after the company announced details regarding its planned debt offering Tuesday night. As of 12:15 p.m. ET, B&G Foods stock was down about 5%, which is a big move for this ordinarily sleepy stock. As of the second quarter of 2023, B&G Foods had a substantial debt load of over $2.2 billion.