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- 1 Dutch Bros and their customers has recently donated $900k to local food vendors
- 2 Technical indicators of BROS stock are favoring consolidation. It is currently near $33
Dutch Bros is a popular chain of drive-thru coffee shops that was founded in 1992 by the brothers of Dutch descent. In 2021, the company went public with an initial public offering on NYSE under the ticker symbol “BROS.” The IPO was highly anticipated by investors due to the company’s impressive growth and loyal customer base. Dutch Bros has more than 480 locations with plans to expand to new markets. The company reported an increase in revenue of 50% in the year 2022. They are looking to reach a revenue of $1 Billion by the end of 2023.Investors are also drawn to Dutch Bros’ unique corporate culture and commitment to giving back to the communities it serves. The company and the customers has recently donated over $900K to local food vendors to support them
Dutch Bros stock has seen significant fluctuations in price, but overall has remained relatively stable. As with any new stock, there is some uncertainty about its long-term performance, but the company’s track record of success and loyal following suggest that it can see a strong rise in the price in future.
Are Bulls Of BROS Pushing To $50?
The weekly technical chart of BROS stock suggests a consolidated momentum in price. On the daily chart it is trading near the value of $33 with a slight drop in intraday session. It is currently trading near its support zone. If it manages to stay above the zone then a high to $50 can be seen. Resistance of BROS price can be seen near $40. Meanwhile the support of the asset price can be seen near $30. It is trading below the 50 and 100 Daily Moving Average. There can be a negative crossover which can push the asset price to a new low in the future. Various analysts are expecting a bounce back in price.
RSI of the BROS stock is near 41 suggesting its presence in the neutral zone. There is a downside slope suggesting a bearish move in price.
Conclusion
Dutch Bros stock has been on a roller coaster ride since its IPO in 2021. It may see a revenue of up to $1 Billion by the end of 2023. Various analysts are expecting strong growth in the near future.
Technical Levels
Major Support:$30
Major Resistance:$40
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
