HelloFresh shares fell 42% after the meal giant warned about the outlook

HelloFresh shares fell 42% on Friday morning in their worst session yet, after the prescription box delivery company disappointed on its 2024 earnings outlook.

Analysts at UBS said that although they noted risks surrounding HelloFresh's guidance, its forecast, issued after the market closed on Thursday, was “significantly worse” than expected. The disappointing growth and revised earnings outlook suggest high customer acquisition costs “are expected to persist into 2024,” they said in a note.

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