Vita Coco (COCO) Stock Trades Up, Here Is Why
What Happened:
Shares of coconut water company The Vita Coco Company (NASDAQ:COCO) jumped 16.5% in the morning session after the company reported fourth-quarter results that blew past analysts' EPS expectations. Its revenue also outperformed Wall Street's estimates. On the other hand, its full-year revenue guidance was underwhelming. However, adjusted EBITDA guidance came in ahead, which is sure to blunt the impact of the below-Consensus revenue guidance. Overall, we think this was a strong quarter that should satisfy shareholders.
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What is the market telling us:
Vita Coco's shares are not very volatile than the market average and over the last year have had only 21 moves greater than 5%.
Vita Coco is down 1.3% since the beginning of the year, and at $25.86 per share it is trading 18.8% below its 52-week high of $31.83 from September 2023. Investors who bought $1,000 worth of Vita Coco's shares at the IPO in October 2021 would now be looking at an investment worth $1,911.
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