Why Oatly's Stock Is Trading Lower Wednesday

Oatly Group OTLY shares are trading lower by 8.8% at $17.37 after Spruce Point Capital issued further bearish commentary on the stock:

Among a series of tweets aimed at Oatly, Spruce Point's Twitter noted Wednesday: "Things that make you go...hmmm #OATLY $OTLY will report earnings on Aug 16th, the absolute last day possible they must file with the SEC. Loads of academic research points to companies pushing off bad news, and pulling fwd good news."

Oatly Group is engaged in the food and drinks industry. Some of its products include Oat Drink, Chilled Oat Drink, Oatgurt, Creamy Oat and ice creams. Oatly caters to Sweden, Germany, United Kingdom, Netherlands, North America, and Finland.

Oatly has a 52-week high of $29 and a 52-week low of $17.04.