Traeger Hits Another 52-Week Low. Is Its Goose Cooked?

Among the 45 NYSE stocks hitting new 52-week lows on Tuesday was wood pellet outdoor grill manufacturer Traeger (COOK). The once-promising Salt Lake City-based business hit its 47th new 52-week low of the past 12 months yesterday, suggesting its best days could be in the rearview mirror. For those unfamiliar with Traeger, it went public on July 29, 2021, selling shares at $18 apiece, raising $424 million in the process. The 2021 IPO valued the wood pellet stove manufacturer’s equity at $2.12 billion. Toda ...