Dow Jones & Nasdaq has confirmed that Coke-Cola is shutting its doors in the wake of a shortage of the popular cola in the United States.
In a statement to the Financial Times, Coke said that the decision was made “due to the recent COKE COKE shortage in the U.S. and other market conditions.”
It added that Cokelsey had agreed to reduce COKE COLA production by up to 50% and would be re-examining its supply options.
“We are pleased that our customers can now enjoy COKE without having to rely on a third party,” the statement reads.
“COKE COKES are one of the few beverages in the world that can be enjoyed without a COKE cooler.”
The COKE company, which has offices in the Boston area, announced the shutdown in a statement Tuesday.
“It is time to move on from this era of constant uncertainty and uncertainty,” it said.
“This is a difficult decision for us to make, but one we felt was best for the long term health of our business and its shareholders.”
The news comes after the stock dropped more than 2% after the U:C.A. released its findings into the COKE crisis.
According to the U.:C.F., the company reported a loss of $2.8 million on revenues of $1.5 billion in the first quarter of the year.
It’s not the first time that Cooke has faced a shortage, but the company’s woes in recent months have coincided with the expiration of a few of its COKE-related products.
In February, the company announced that it was discontinuing its COX-2 gel, which was supposed to be the first of its line of COX medicines.
That decision was prompted by the outbreak of COVID-19, which also affected the COX therapy market.
Last week, the COKCO, a new product developed to treat COX, was also withdrawn from the market.
That led to another steep drop in stock prices, which had already been hitting record highs.
On Monday, the stock was down $6.50, or 2.6%, to $38.35 per share.