Vita Coco Shares Rise 9% After Company Issues Statement On Tariff Relief

(RTTNews) - Shares of Vita Coco Company, Inc. (COCO) rose 9.18% on Monday after the company released a statement addressing the U.S. government's tariff relief actions.

Vita Coco said it welcomes the tariff relief and believes it will support continued affordability and stable supply for coconut water products imported into the U.S. The company added that it remains committed to working with regulators to ensure long-term access to key raw materials without unnecessary cost pressures.

On Friday, COCO opened at $44.20, reached a high of $48.10, and a low of $43.95, compared to a previous close of $43.85, on the NasdaqGS. Trading volume surged above 2.1 million shares, significantly higher than the average of 730,000.

The stock's 52-week range stands at $19.32 - $48.10, with today's session marking a test of the upper end of that range.