Coca-Cola Stock Price (NYSE:KO) Holding $70 Support – Company Considers Costa Coffee Sale
Coca-Cola is reportedly exploring the sale of its Costa Coffee chain, acquired in 2018, as the beverage giant reassesses its portfolio amidst challenging market conditions. The move, driven by Costa’s underperformance, could cause shifts in the Coca Cola stock price (NYSE:KO), if the story develops further, yet the relatively small size of Costa to the KO market cap is likely to contain any move.
The Coca-Cola stock price has fallen 1% over the past 12 months, yet has regained the $70 level, as bulls look to turn previous resistance into support for a leg up.
Initial discussions are understood to have commenced with a limited number of potential buyers for Costa, primarily private equity firms, with indicative offers anticipated in…
