Shares of Dutch Bros (NYSE: BROS) charged sharply higher Tuesday, surging as much as 14.6%. As of 2:45 p.m. EDT, the stock was up 10%.
The catalyst that sent the coffee chain stock higher were reports that Dutch Bros may be outperforming its biggest competitors.
Data intelligence platform Placer.ai analyzed customer visits to Dutch Bros and compared it to traffic at both Starbucks (NASDAQ: SBUX) and privately held Dunkin' Brands. In an interview with Yahoo! Finance, Placer.ai's vice president of marketing, Ethan Chernofsky, said Dutch Bros was growing much more quickly and the company had an opportunity to become a real competitor to its more established rivals.
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Why Dutch Bros Stock Was Piping Hot on Tuesday