Why Dutch Bros Stock Took a Tumble This Week
Shares of Dutch Bros (NYSE: BROS) slumped 20% this week, according to data from S&P Global Market Intelligence. The upstart coffee stand chain that is undergoing rapid expansion across the country posted strong revenue growth but guided for a slowdown in future coffee shop openings in its second-quarter earnings report. As of the close on Aug. 8, 2024, the stock was down 19.2% since Friday's close.
Here's why Dutch Bros stock slipped again this week.
Dutch Bros is a coffee chain that operates drive-thru stands with unique caffeinated beverages like its famous Rebel energy drinks. In the second quarter, the company posted 30% revenue growth to $325 million, driven by 36 new shop openings and comparable sales growth -- growth from existing locations -- of 4.1% year over year.
Source Fool.com
