Green Mountain (GMCR) Getting Attacked from All Angles
Tweet
Share
E-mail
Get Alerts GMCR Hot Sheet
Join SI Premium – FREE
Shares of Green Mountain Coffee (Nasdaq: GMCR) are higher Monday, but the attacks against the company won't stop.
After getting lambasted by David Einhorn of Greenlight Capital last week, new K-cup competition was reported earlier this morning.
Rogers Family Company launched its San Francisco Bay OneCup Monday, which works with Green Mountain's popular Keurig brewer. The company is selling a 12-cup box online for $7.99, or about 25 to 30 percent less than comparable products.
Rogers Family is getting around the K-cup patents by not having an interior plastic brewing chamber. Instead, the OneCup utilizes a special filter.
Einhorn brought up in his presentation last week that Green Mountain's patent on the K-cup expires in 2012. The company has been trying to update the cups and brewers to a new design and patent, but the installed base of machines uses the original K-cup.
Despite the attack, shares of Green Mountain are up 7 percent today to $72.80. Shares, however, are still down 21 since Einhorn disclosed he was short the stock last Monday.
After getting lambasted by David Einhorn of Greenlight Capital last week, new K-cup competition was reported earlier this morning.
Rogers Family Company launched its San Francisco Bay OneCup Monday, which works with Green Mountain's popular Keurig brewer. The company is selling a 12-cup box online for $7.99, or about 25 to 30 percent less than comparable products.
Rogers Family is getting around the K-cup patents by not having an interior plastic brewing chamber. Instead, the OneCup utilizes a special filter.
Einhorn brought up in his presentation last week that Green Mountain's patent on the K-cup expires in 2012. The company has been trying to update the cups and brewers to a new design and patent, but the installed base of machines uses the original K-cup.
Despite the attack, shares of Green Mountain are up 7 percent today to $72.80. Shares, however, are still down 21 since Einhorn disclosed he was short the stock last Monday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Two Hands Corp delists from Canadian exchange, pursues name change
- Circle receives OCC approval to establish a national trust bank
- Angi Inc. names new chief accounting officer after resignation
Create E-mail Alert Related Categories
Corporate News, Insiders' BlogRelated Entities
Greenlight Capital, David EinhornSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
