OTLY - Traders Push Stock Higher Following Airline Partnership Announcement

2023-04-26 14:38:34 ET

Major partnerships tend to make stocks move, especially when the partnership itself is between two companies that create synergy instead of indirect competition following the alliance. The complimentary partnerships tend to involve two companies that are in separate industries but can help build each other’s revenue and brand by coming together.

That’s exactly what happened after it was announced that %OatlyGroupAB (Nasdaq: ), he world’s original and largest %OatDrink company, and Swiss International Air Lines (SWISS), today announced Oatly Caffè Latte is now available for SWISS passengers to purchase onboard all flights, according to the release. Shares of Oatly Group traded up to $2.35/share (+6.33%) at the session high.

Oatly Group AB is engaged in the food and drinks industry. Some of its products include Oat Drink, Chilled Oat Drink, Oatgurt, Creamy Oat, Icecreams, among others. It caters to Sweden, Germany, United Kingdom, Netherlands, North America, Finland, and Other markets.