A customer receives dog treat drinks at the drive-through window of a Dutch Bros. Coffee location in Beaverton, Oregon, U.S., on Thursday, June 24, 2021.
The market reaction to a $300 million secondary stock offering from drive-thru coffee chain Dutch Bros (BROS) is an encouraging sign, CNBC's Jim Cramer said Friday.
Dutch Bros on Thursday priced the stock sale at $26 per share, below its most recent closing price of $26.78.
Shortly after Friday's opening bell, Dutch Bros stock was trading higher by 4%, to nearly $28 per share.
Cramer said his only issue with Dutch Bros's secondary offering is that it didn't happen sooner — when its stock price was higher.
Persons:
CNBC's Jim Cramer, you've, Cramer, Jim Cramer's, would've
Organizations:
Bros, Dutch Bros, Cramer's Charitable Trust, CNBC, Cub
Locations:
Beaverton , Oregon, U.S, Oregon, Cramer's