RTTNews | Jan 14, 2022 11:18AM EST

11:17 Friday, January 14, 2022 (RTTNews.com) - Alcoholic beverage producer The Boston Beer Company, Inc. (SAM), is trading 7% lower on the Friday market after the company slashed its 2021 income guidance during an earnings call on Friday.

In a filing with the SEC, the company has reported that the earnings per share for the full year can be between a loss of $1 per share and earnings of $1 per share. Previously, the full-year guidance was earnings between $2 and $6 per share. The reason behind the drop is attributed chiefly to the supply chain woes that have been affecting businesses across the country.

The stock is currently trading at $455.64, down $33.34 or 6.82% since the previous close at $446.49. The stock opened at $446.49 in the morning and in the 52-week period, the stock has ranged between $435.12 and $1,349.98 per share.

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