BROS - 1 Top Growth Stock Down 60% to Load Up on in 2024
2024-01-08 11:20:00 ET
Investors are feeling bullish after a strong finish to 2023, but even after a 24% gain for the S&P 500 last year, many great stocks are still trading below their previous highs and at cheap valuations. Before the rising tide lifts even more stocks, don't miss the opportunity to pick up bargains in the market right now.
Dutch Bros (NYSE: BROS) isn't well known outside the states where it operates, but if you're interested in quality investments, you should get to know it better. Dutch Bros stock trades 60% below its all-time high at a price-to-sales ratio of less than 2, but it could soar this year. Here's why.
Dutch Bros operates a chain of coffee shops similar to Starbucks but different in feel and vibe. It sells itself as a fun-loving and friendly alternative with a focus on high-level customer service and speed. It has 794 stores in 16 states as of the end of Q3 2023, including 39 new openings during the quarter, but it has serious expansion plans. It has die-hard fans in its current locations, and it's a concept that could translate well all over the country. Management sees an opportunity for 4,000 locations over the next 10 to 15 years.
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1 Top Growth Stock Down 60% to Load Up on in 2024