Why Coca-Cola Shares Are Diving Today

Coca-Cola Co KO shares are trading lower by 4.23% to $58.78. The company announced it is delaying plans to list Coca-Cola Beverages Africa as a publicly-traded company.

Coca-Cola says the company will continue to evaluate macroeconomic conditions in deciding future timing for an IPO in 2023. Coca-Cola says plans to have an Africa-focused bottler traded as an independent public company remains unchanged.

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Coca-Cola is the largest nonalcoholic beverage entity in the world.

According to data from Benzinga Pro, Coca-Cola has a 52-week high of $67.20 and a 52-week low of $52.28.