71.22
price up icon4.06%   2.78
after-market After Hours: 70.88 -0.34 -0.48%
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Why is Coca Cola Co (KO) Stock down?

05 Oct, 2023:

Shares of Coca-Cola Company (KO) dropped by 4.83% from $55.04 to $52.38 in the trading on Thursday October 5, 2023. The reasons why stock KO is down today is due to concerns that weight-loss drugs like Ozempic and Wegovy are causing consumers to buy fewer groceries and consume fewer calories. Walmart's CEO mentioned a slight pullback in overall purchases linked to these drugs. This indicates an impact on the packaged food and beverage industry. Coca-Cola has been shifting toward healthier options and diversifying into hot drinks like coffee. While this news led to a soft drink industry sell-off, it's wise for investors to monitor the situation rather than make hasty decisions based on the current uncertainty.

beverages_non_alcoholic PEP
$153.18
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$68.90
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$63.40
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