Why Oatly Stock Is Trading Higher Today

Oatly Group AB - ADR OTYL shares are trading higher by 13.87% to $2.71 Tuesday morning after the company announced an expansion of its partnership with Reitan to feature oat drink in coffee machines in its 7-Eleven and Pressbyrån convenience stores across Sweden.

Per a Tuesday press release, Oat drink will be made available in coffee machines in approximately 300 Pressbyrån and 90 7-Eleven convenience stores across Sweden owned and operated by Reitan.

"Through our partnership with Reitan and integrating Oatly into coffee machines for the first time at this scale, we're able to make plant-based alternatives a natural part of the everyday lives of millions of people across Sweden," said Jonas Persson Follin, General Manager for the Nordics at Oatly.

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"This is an important step for the plant-based movement and part of our mission to put Oatly everywhere to reduce people's reliance on dairy and encourage more sustainable consumption habits."

According to data from Benzinga Pro, OTLY has a 52-week high of $8.30 and a 52-week low of $1.28.