Is Dutch Bros Stock a Buy Now?
Dutch Bros (NYSE: BROS) has been a difficult stock to own throughout its two-year history. After an IPO at $23 per share, it quickly spiked above $80 per share. Nonetheless, economic uncertainty and internal factors brought about a steady slide back to the IPO price.
However, the rapid revenue increases that helped inspire its early popularity have remained. As a result, it now operates more than 750 locations in 14 states. Moreover, with its heavily discounted share price and recent move to profitability, it may be time for investors to take another look at this emerging coffee stock.
Admittedly, some company actions could have given prospective investors pause. Dutch Bros announced in early August that CEO Joth Ricci will step down at the end of 2023. The company's president, Christine Barone, a former executive at , will succeed Ricci.
Source Fool.com
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