BROS - Why Dutch Bros Stock Soared 17% in June
2024-07-03 08:37:06 ET
Shares of Dutch Bros (NYSE: BROS) stock jumped 17% in June according to data provided by S&P Global Market Intelligence . There wasn't any specific news about it in June, but investors are feeling confident about it after a strong first-quarter report and raised guidance.
Dutch Bros is a chain of coffee shops headquartered in Oregon with shops along the West Coast. It's been in operation for decades, but it only recently went public and created a wide-ranging expansion strategy. It now has 876 stores in 17 states and counting as it spreads east across the country.
Dutch Bros has some signature, bold beverages that customers love and that separate it from other coffee chains. It's focused on friendly customer service and being a place where people can come in and have a good time. However, it's also dedicated to quick service, and it has a strong order and drive-thru business. Since it's still quite small and setting up its infrastructure, it can be nimble in growing to meet consumer demand. This is a problem that's frustrating coffee chain giant Starbucks right now that Dutch Bros doesn't have.
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Why Dutch Bros Stock Soared 17% in June