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00:02Dutch Bros shares fell Tuesday as higher bond yields, rising oil prices and concerns about
00:08consumer spending, pressured growth and consumer discretionary stocks, according to Benzinga.
00:13The pullback followed Dutch Bros' decision not to raise its offer in an ongoing bidding process
00:19for regional drive-thru locations. The company also said Monday it would not increase its offer
00:24to acquire up to 65 Salad & Go locations across Arizona, Nevada, Oklahoma and Texas.
00:31Dutch Bros' remains involved in the bidding process and said it will evaluate expansion
00:36opportunities based on financial returns. CEO Christine Barone reiterated the company's
00:41goal of reaching 2,029 shops by 2029, up from 1,025 as of June 30th.
00:48The 10-year treasury yield rose to 4.8% while the 30-year reached 5.25%.
00:55Shares fell 5.44% to $46.20 near their 52-week low of $44.58, according to Benzinga ProData.
01:04For all things money, visit Benzinga.com.
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