Written by Brenda Nakalema

Coca-Cola Stock the Only One to Gain in the S&P 500

While the market takes a serious beating, Coca-Cola (ticker: KO) is the only stock still performing. Coca-Cola stock gained 0.04%, …

While the market takes a serious beating, Coca-Cola (ticker: KO) is the only stock still performing. Coca-Cola stock gained 0.04%, landing at $61.44, despite the fact that the S&P 500 dropped 3.7% and the Dow Jones Industrial Average fell 2.8%. If the trend continues, the market will likely fall even lower by the time this article is published.

Shares in the company have put up one of the toughest performances this year, with its shares up 3.7% in 2022. Owing to its status as a consumer staple, plus its great performance post-Covid reopening, the brand seems to offer investors the best of both worlds. An added advantage is that Coca-Cola issued an optimistic outlook in its April reported earnings, which makes the company recognizable in the market.

Even with this extraordinary performance, it will be difficult for Coca-Cola to maintain its gain as the market continues to react to inflationary pressure. Bryan Spillane, a BofA analyst, continues to support the stock saying, “The Coca-Cola company has emerged from the pandemic with solid profitability and cash generation.”