Hot Coffee Stock Loses Buzz Upon Leak

NY - Shares in ultra-hot Coffee Holding Co. stock cooled considerably on Wednesday after someone spilled the beans about the Staten Island roaster’s upcoming quarterly results

Coffee Holding, which packs java under such labels as Café Caribe, is one of the market’s stranger-performing stocks. Shares in the 40-year-old, family-run enterprise have soared this year, to more than $30 a share from less than $4 on Nasdaq...

After the market closed, Coffee Holding, “aware that there is certain information in the marketplace,” released preliminary figures for sales and cost of sales. The numbers were lower than investors had hoped and the stock fell 10% as of midday Wednesday...
 
CEO Andrew Gordon, who controls about 1 million shares, or 20% of his company’s stock, wouldn’t comment on the source of the leak. But it comes at a sensitive time for Coffee Holding... (more)