Premium lifestyle beverage manufacturer The Vita Coco Company (COCO), which is known for its coconut water products, made its stock market debut on October 21, 2021. But even though the company’s profit margin has improved year-over-over-year, will COCO be able to maintain its growth streak as supply chain bottlenecks continue? Read more to find out.The Vita Coco Company, Inc. (COCO), which is headquartered in New York City, is a healthy beverage producer known for its coconut water drinks. Founded in 2004, COCO’s popular brands include Vita Coco, Runa, and Ever & Ever. The company is a leading player in the premium lifestyle drink industry, operating in 24 countries worldwide. It controls 46% of the market share in the United States and more than 70% of the market share in the United Kingdom.
COCO made its stock market debut through a traditional IPO on October 21, 2021, by listing 11.50 million shares on the Nasdaq Stock Exchange. The stock made a lukewarm market debut, opening just 2.5% above its initial price of $15.
But the shares COCO slumped 1.7% intraday to close its first trading session at $13.52. The stock has since gained 12.6% in price.