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Dutch Bros Rises by 29.94%

September 18, 2021
in Trading
Reading Time: 3 mins read
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Dutch Bros Rises by 29.94%
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The next day after its IPO last Tuesday, Dutch Bros’ stock price surged by 70% right after its opening; yesterday, it recorded a nearly 30% increase. Is the Starbucks era over?

Dutch Bros held its IPO this week and the market seemed extremely enthusiastic. If you are interested in adding new companies to your portfolio, this may be an interesting pick. Let’s find out why investors seem to be so interested in this coffee chain on the West Coast.

How & Where to Buy Dutch Bros Stock Online

Dutch Bros is listed on the NYSE under the symbol “BROS”. You can trade its stock, along with many other assets, by registering with an online broker. Check out our top recommended online brokers for a seamless experience:

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What Is Dutch Bros?

Dutch Bros was founded 30 years ago by two dairy farmers who pushed a cart selling a few beverages, such as chocolate macadamia nut espresso. It has now grown into Oregon’s seventh-largest corporation with more than 450 locations in 11 states.

Should I Buy Dutch Bros Today?

Dutch Bros held its IPO at a higher price per share; despite the forecast $18-$20 range, Dutch Bros shares were out at $23 per share. For retail traders, the stock price was 41% above the $23 IPO issue price. 

The company is valued at $3.8 billion and is quickly becoming the most impressive stock market debut in Oregon’s history. Even Nike debuted at $22 per share four decades ago; although it is not inflation-adjusted, the high share price may say something about market expectations.

The fundamentals indicators are positive, too. Its revenues increased by 37% in one year, and there is a 51% gain for the first six months of this year compared to the same period one year ago. The impressive growth was registered despite the coronavirus pandemic tanking the coffee shop industry.

Is Dutch Bros capable of becoming Starbucks’ rival? Most likely, time will tell.

Dutch Bros Price Prediction 2021

There is no analyst consensus yet for this stock. However, if the stock gains enough traction, positive recommendations are likely to occur as it might act as a sign of industry recovery.

Credit: Source link

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