Commodities & Metals
Green Mountain Boiled Following Earnings (GMCR, SBUX, JVA)
Published:
Last Updated:
Green Mountain’s partner in some products and competitor in others, Starbucks Corp. (NASDAQ: SBUX), isn’t getting beaten up too badly because its deal with Green Mountain isn’t critical to the Seattle-based giant. One stock that is getting beaten up is Coffee Holding Co. Inc. (NASDAQ: JVA), down about -12%. Coffee Holding Co. is one of Green Mountain’s main suppliers, not a good thing to be today.
Among the many issues Green Mountain listed in its earnings report last night was higher coffee prices. That seems a little disingenuous. Coffee prices today are hovering around $1.75/pound for Arabica, down from more than $3/pound just a year ago. Green Mountain must have bought a mountain of the stuff and saved it until now in order to be blaming coffee prices, which have been falling almost non-stop since a September peak at around $2.90/pound.
Green Mountain’s trading volume today tops 73 million shares, more than 13x average daily volume. Shares are down -49.4% at $25.08 after posting a new 52-week low of $24.40. The prior range was $39.42-$115.98. Coffee Holding Co. shares are down about -12.6% at $7.67 in a 52-week range of $5.63-$30.98. Volume is only slightly higher than normal.
Paul Ausick
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.