BRCC - This Coffee Stock Has Quietly Doubled in Just the Last 8 Months and It Isn't Dutch Bros or Starbucks
2024-06-10 05:15:00 ET
With only a garage and a one-pound roaster, three friends founded Black Rifle Coffee (NYSE: BRCC) in 2014. It started as a direct-to-consumer (DTC) coffee company with a strongly patriotic brand identity. And from those humble beginnings, things have really taken off. The company, which generated nearly $400 million in revenue last year, expects to generate at least $430 million this year.
While the business has been successful (going from nothing to $400 million in 10 years is impressive), Black Rifle Coffee's reception on the stock market has been another story. Shares started off at $10 in 2021 through a special purpose acquisition company (SPAC). And on Feb. 7, 2022 -- the day the SPAC completed its merger with Black Rifle Coffee -- the stock closed above $16. But after climbing for much of March to a peak above $30 in early April, the shares consistently tumbled lower, dropping to below $3 per share late last year.
Now, however, it appears that Black Rifle Coffee stock is finally back on track. From that low, it has risen by more than 100% over the last eight months to around $6 a share. That's a far better return over that time than the S&P 500 or larger coffee companies Starbucks (NASDAQ: SBUX) and Dutch Bros (NYSE: BROS) have delivered.
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This Coffee Stock Has Quietly Doubled in Just the Last 8 Months, and It Isn't Dutch Bros or Starbucks