Shares of Dutch Bros (NYSE: BROS) are rocketing higher this week, surging 34.1% compared to where they closed last Friday, according to data from S&P Global Market Intelligence, riding a meme stock wave of buying. After it was reported that short interest in the coffee shop shot up almost 30% in the latest period, stock traders who populate various internet stock chat rooms piled into the stock. Meme stocks, of course, are stocks that trade more on social media chatter than on business fundamentals, though in Dutch Bros' case the underlying business is pretty good, too.
Dutch Bros (NYSE: BROS) coffee chain went public via IPO in late 2021. The company has been growing like a weed, but it recently reported earnings and the stock plummeted as much as 41% on the news. Has the selling pressure created a buying opportunity? When you hear statements like "the next Starbucks," you probably think to yourself, yeah right.
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