Will Green Mountain Provide Further Jolt for Coffee ETF?
A rallying exchange traded note ( ETN ) for coffee futures will be looking for a boost Wednesday following solid quarterly earnings from Green Mountain Coffee Roasters (NasdaqGS: GMCR).
The company after Tuesday's closing bell raised its full-year outlook, sending the stock higher by nearly 20% in after-hours trade.
Meanwhile, the only exchange traded product for java, iPath Dow Jones-UBS Coffee ETN (NYSEArca: JO), has been a solid performer on supply concerns and rising demand in emerging economies. [Coffee ETN Perks Up.]
The coffee ETN has rallied more than 25% so far this year.
iPath Dow Jones-UBS Coffee ETN
Chart source: StockCharts.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
