Yahoo Finance anchors discuss Oatly beverages being recalled and how the stock has performed since its IPO.
JULIE HYMAN: Our second one here, Oatly Oat Milk among 53 products being recalled over possible bacterial contamination. The FDA said that Oatly's Oat Milk Barista Edition, a variety of iced coffees, protein drinks, and other flavored non-dairy beverages made by other companies, are affected in this.
Other brands in the recall, Lucerne Premium-- Premier Protein. This is a product that Oatly, by the way, sells to professionally, like, to coffee shops and whatnot. But more importantly, the company coming out with revenue that missed estimates, coming out with continued losses here. And I was just looking back at Oatly. It IPO'ed-- remember we talked to them at the IPO-- May 19, 2021. Do you know what the IPO price was?
BRIAN SOZZI: 17.
JULIE HYMAN: $17. It's trading below 3.50.
BRIAN SOZZI: All I can say is, thank goodness I drink my coffee black. This is a tough day for Oatly. Really ugly quarter. Profits are under pressure here. It just continues to get even worse.
BRAD SMITH: No, I've never tried the oat milk of Oatly, or actually, any oat milk.
JULIE HYMAN: It's not bad.
BRAD SMITH: It's not?
BRIAN SOZZI: No, it is good. Just--
JULIE HYMAN: It's not bad, but you know.
BRIAN SOZZI: Not in this case.
JULIE HYMAN: Yeah, wow, wow, no cow, as the CEO said in the--