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Is Recent IPO Vita Coco a Good Stock to Buy? -Breaking

by Mike Robinson

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© Reuters. Are Recent IPO Vita Coco Stocks Worth Buying?

The Vita Coco Company, a premium lifestyle beverage company known for making coconut water products and other beverages, launched its stock exchange debut on October 21st 2021. But even though the company’s profit margin has improved year-over-over-year, will COCO be able to maintain its growth streak as supply chain bottlenecks continue? Learn more. The Vita Coco Company, Inc., which is located in New York City, produces coconut water beverages. Founded in 2004, COCO’s popular brands include Vita Coco, Runa, and Ever & Ever. It is one of the most prominent players in premium lifestyle drinks, with operations in over 24 countries. The company controls more than 70% and 46% respectively of the US market.

COCO’s stock market debut was made by a traditional IPO, which saw 11.50 million shares listed on the Nasdaq Stock Exchange on October 21st 2021. This stock opened at 2.5% higher than the initial $15 price and had a slow market debut.

The shares COCO fell 1.7% during the day to close their first trading session at $13.52. In the meantime, it has gained 12.6%.

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