Green Mountain (GMCR) Dips on Comments of New Espresso Machine, Tiered K-Cup Pricing
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Green Mountain Coffee Roasters (Nasdaq: GMCR) lower at the end of its conference call, following headlines that it would tier K-Cup prices as well as mentions of an espresso system "coming soon." Comments were made at the company's conference call this afternoon.
The espresso machine comes in the wake of Starbucks (Nasdaq: SBUX) announcing its own intentions for a single-serve machine earlier in the year, while tiered pricing might also suggest that it hasn't gotten a full grasp on its market yet.
Shares are 4.8 percent lower on the session, moving well below $23.75 on the announcements.
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The espresso machine comes in the wake of Starbucks (Nasdaq: SBUX) announcing its own intentions for a single-serve machine earlier in the year, while tiered pricing might also suggest that it hasn't gotten a full grasp on its market yet.
Shares are 4.8 percent lower on the session, moving well below $23.75 on the announcements.
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