Jim Cramer sees ‘green shoot' in stock market reaction to this secondary stock sale

📆 08/09/2023 14:15:00
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The market reaction to a $300 million secondary stock offering from Dutch Bros (BROS) is an encouraging sign, CNBC’s Jim Cramer said.

The market reaction to a $300 million secondary stock offering from drive-thru coffee chainDutch 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.

"If you take a look at where this deal [was priced], if you've got be excited if you got in because you're already up," Cramer said on"Squawk on the Street." He added,"This is some of the things that might be positive. This is a green shoot."

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