Watching The Vita Coco Company; Ragnarok Research Out With Report On Co Titled "Vita Coco: A Weak And Unethical Supply Chain Facilitating Violence Against The Tribal People Of Brazil. Public Benefit Corporation ? We Don't Think So"
Portfolio Pulse from Benzinga Newsdesk
Ragnarok Research has released a report on The Vita Coco Company (COCO), an American beverage company, highlighting potential issues with its supply chain and ethical practices. The report suggests that Vita Coco's main supplier, Ducoco, is facing serious litigations in Brazil for land grabbing and notary fraud. Additionally, the report raises concerns about potential child labor in Vita Coco's supply chain in the Philippines. The report also mentions that insiders are planning to sell 26 million shares of Vita Coco, which is about half of the company's outstanding shares.
October 18, 2023 | 2:15 pm
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The Vita Coco Company may face potential issues with its supply chain and ethical practices, which could negatively impact its stock price.
The report by Ragnarok Research raises serious concerns about Vita Coco's supply chain and ethical practices. If these allegations are proven true, it could significantly damage the company's reputation and potentially lead to legal issues, which could negatively impact its stock price. Additionally, the report mentions that insiders are planning to sell a significant amount of shares, which could also put downward pressure on the stock price.
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IMPORTANCE 80
RELEVANCE 100