Why is Kraft Heinz (NASDAQ: KHC) tanking? why is it SEC conducting a review of it's books?

https://www.youtube.com/watch?v=Pqc56crs56s

At time 17.56 to 23.56, Warren Buffet stated he miscalculate on Kraft. He explain about the business and why it was a tough one.

Totally understand the thesis behind it.

Don't hear it from us. Hear it directly from the person himself.

Kraft Heinz Stocks are tanking due to the inability of the company to change with the times - nowadays consumers demand more healthy varieties and options, such as gluten free/organic products, which kraft heinz's line of products do not appropriately cater to. Their line of condiments and products such as squeezy instant cheese, mayonaise etc. have not fundamentally changed for the past few years, which have not helped the fact that their competitors such as Mondelez and General Mills have jumped on the organic produce bandwagon. as a result, KRaft Heinz posted huge losses due to the $15.4 billion writedown of its Kraft and Oscar Mayer Brands, and has reduced the dividend payout. All not good signs of healthy growth. $8.3 billion from an intangible asset writedown of the Kraft and Oscar Mayer brands and $7.1 billion from a goodwill impairment to its North American refrigerated and retail business.

Kraft Heinz has also a SEC probe into its accounting practices, where not much information has been released. This is especially worrying as it signals to investors that there may be fundamental problems with the earnings reports and accounting standards of the company. As a result, investors are currently fleeing the asset, and there is a huge selling pressure which has resulted in the dip in price.

Though some may recommend buying the dip, I suggest to hold off until the SEC probe results to understand the true state of KHC's accounting and books.