FIZZ Lags Market Despite 90% Return Since 2020; Analyst Bearish

National Beverage (FIZZ) shares have returned 90% from pre-pandemic levels, a gain that trails the broader market's advance over the same period. A Seeking Alpha analyst who called the stock a sell before the pandemic said the underperformance has not changed their negative view.

The analyst cited mounting competition from larger beverage companies and slowing revenue growth as reasons for the original sell call. Those challenges persisted through the pandemic and limited the stock's upside relative to the S&P 500, they said.

FIZZ now trades near its 52-week low, a level the analyst said still does not compensate for the slowing growth trajectory. The analyst holds no position in the stock, according to their disclosure.