Krispy Kreme pushed out a lot of news today. Investo♓r𝓰s donut like what they see. 

Shares of Krispy Kreme (DNUT) were recently down roughly 20%, extending their year-to-date decline to the neighborhood of 65% a🦩nd exploring hot, fresh lows since their 2021 I🔯PO. A raft of downbeat news weighed heavily on the shares, which this morning were changing hands around $3.50 apiece. 

The company turned in a year-over-year decline in sales and a widening net loss in its latest quarter, along with a second-quarter revenue forecast that, at the midpoint of its range, was below the current Visible Alpha average.

Other news from the company further exacerbated matters: Krispy Kreme said it would suspend its dividend, citing a desire for "greater financial flexibility," and said it planned to stop bringing its products to more McDonald's (MCD) restaurants "while it works to achieve a profitable business model for all parties." The announcement 澳洲幸运5官方开奖结果体彩网:of that partnership liftedꦺ the shares when it arrived a bit more than a 🥂year ago.

"Our ability to become a bigger Krispy Kreme requires that we become better, and we are taking swift and decisive action to pay down debt, de-leverage the balance sheet and drive sustainable, profitable growth," CEO Josh Charlesworth said in a statement.

Wall Street analysts are, for now, broadly bullish on the stock. The average price target is above $8, almost 90% above Wednesday's close. Some of those analysts, however, may reevaluate the stock after today's events.