Coffee Holding Down 8% In Early Thursday Trading

It appears the straight up run in Coffee Holding Co., Inc. JVA shares is over, as shares are off 8% today. After running over 400% in the past three months, shares have faltered this week, seeing two down days after seemingly never seeing any red. The small $116 million market cap-coffee company reported stronger than expected earnings in June, and that sent shares on a tirade, screaming higher. Combined with strong fundamentals and momentum traders moving into the coffee stocks, it was a perfect storm for Coffee Holding bulls. Like all good things, it came to an end. What goes up must come down, and shares are diving another 9% today, losing $2.09 to trade at $20.96. It looks like this cup has gone cold. Somebody better put on a fresh pot.