Why Dutch Bros Stock Fell 19% in August
Dutch Bros (NYSE: BROS) stock fell 19% in August, according to data provided by S&P Global Market Intelligence. It provided some guidance in its second-quarter earnings report that the market didn't like, and it was negatively impacted by news that the restaurant industry might be facing some trouble.
Dutch Bros is a chain of coffee shops that has recently developed a countrywide expansion strategy along with an initial public offering (IPO). It's based in Oregon and has most of its stores on the West Coast, but it's been opening new stores at a rapid pace and generating increasing revenue.
It opened 165 new stores last year and plans to open up to 4,000 over the next 10 to 15 years. It's been quickly making its way across the country and now has 912 stores in 18 states.
Source Fool.com
