The Coca-Cola Co (NYSE:KO) Bubbling Up

tags: KO

The Coca-Cola Co (NYSE:KO) was going up and down the charts in the past couple of months after receiving a serious hit back in the second half of April. Still, the company is well above the level that it had in the beginning of the year, despite the fact that soda sales are still in decline industry-wide.

Considering the fact that Coca-Cola is one of the biggest global players in the beverage industry it was certainly going to be affected by last week’s Brexit vote. After all, a total of 10.3% of the company’s 2015 net operating revenue came from Europe.

The soda giant slumped 2.55% in the day after the vote and finished the week with a price per share of $43.93. Still, the company is beating earnings projections and is doing relatively well. Yesterday, Coca-Cola announced it will release the results for the second quarter before market open on July 27, so we will have to wait another month to see if it has met analyst projections.

Meanwhile, after another small 0.34% loss in Monday’s session we see that KO has gone up 0.91% yesterday, closing with a price of $44.18 per share. The company stock is still going up today, but we may have to wait a couple of sessions until it is able to return to its pre-Brexit prices.