Coca-Cola Stock Drops 7% In A Week – Patient Investors Will Benefit – Forbes

Coca-Cola Stock Drops 7% In A Week – Patient Investors Will Benefit – Forbes


Coca-Cola stock (NYSE: KO) decreased almost 7% in the last one week and currently trades at $51 per share. The drop was driven by the recent spike in Covid-positive cases and a new strain leading to lockdowns in the UK, which has led to expectations of the impact of the pandemic lasting longer than earlier projections. This will possibly affect Coca-Cola’s sales which is largely dependent of away-from-home consumption like bars, movie theaters, live sports, etc. Extended lockdowns or new ones will take a toll on the company’s sales which has led to analysts downgrading Coca-Cola’s stock price estimate in the last few days.

According to the Trefis Machine Learning Engine, which identifies trends in a company’s stock price data for the last 20 years, returns for Coca-Cola stock average close to -2% in the next one-month (21 trading days) period after experiencing a 7% drop over the previous one-week (5 trading days) period. Notably, though, the stock is likely to underperform the S&P500 over
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