Cal-Maine Foods, Inc. (CALM)

Shares of Cal-Maine Foods Inc. (CALM) dropped by 7.28% from $47.50 to $44.04 in the trading on Wednesday October 4, 2023. The reason why CELH stock down is due to the weaker-than-expected sales in first quarter of fiscal 2024 (ended Sept. 2). The egg producer cited a challenging and dynamic market environment as a significant factor in its underperformance. The company announced a decline in net sales for the first quarter of fiscal year 2024, with revenues dropping to $459.3 million from $658.3 million compared to the same period in the previous year.For the fiscal first quarter, the company reported earnings of 2 cents per share, falling short of the consensus estimate of 33 cents per share as reported by analysts polled by FactSet.