Boston Beer Says Hard Seltzer's Fall Is Even Worse Than Feared

Boston Beer's (NYSE: SAM) ride on the hard seltzer growth train is over, and the end is uglier than many people imagined. Having already admitted in July it badly misjudged the alcoholic beverage's popularity, Boston Beer has been forced to concede again that demand is even worse than it predicted, and management withdrew its guidance for the rest of the year as a result. Hard seltzer's slowdown caught everyone by surprise as 2021 was supposed to be another year of rapid growth, but the shock waves from the sudden drop in demand are still being felt.