Dutch Bros. pops higher on CNBC positive mention
Juanmonino/iStock Unreleased via Getty Images


Dutch Bros. (NYSE:BROS) neared session highs earlier, now up 3.2%, after a CNBC commentator pitched the shares on the network.
CNBC commentator Josh Brown recommended the shares earlier and said that the company's energy drink Blue Rebel is the "star of the show." He said he has a small position and expects to add some at lower prices if market volatility continues.

"It's crack," Brown said on the network. "It's like caffeine and Hawaiian Punch and people can't stop drinking it."
"I relish the opportunity for the stock to come in," Brown added. "I will keep buying. I'm very excited about this company's prospects."
Dutch Bros. short interest is 18.5%.

Separately Brown said he recently sold out of his Starbucks (NASDAQ:SBUX) position.
"Obviously things get much more challenging now than they were coming out of the pandemic," Brown said. "Most of the stores have reopened, most of the foot traffic has returned."
Starbucks shares are down about 1%.

Brown also recommended shares of newly public Swiss-sneaker maker On Holding (NYSE:ONON). On Holding rose 4.4%. Brown also said he sold out of his Coinbase (NASDAQ:COIN) position
Yesterday, Dutch Bros is viewed favorably by Cowen after ICR presentation.