Why Coca-Cola Consolidated Stock Skyrocketed This Week
Coca-Cola Consolidated (NASDAQ: COKE) stock soared this week following a big financial move from the company. The bottling specialist's share price marched 15.8% higher in a stretch of trading that saw the S 500 nudge 0.1% higher and the Nasdaq Composite decline by 0.5%.
After the market closed on Nov. 7, Coca-Cola Consolidated announced that it bought back all of its common stock that had previously been held by The Coca-Cola Company. Investors are bullish on the move, and Coca-Cola Consolidated stock is now up roughly 26% year to date.
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Source Fool.com
