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Wall Street, financial arbiter in the capital of the world, has amassed dozens of adages since the dawn of publicly-traded companies. Adages that -- while not proving to be 100% accurate for every historical case study -- nevertheless do contain substantial amounts of truth. And one of Wall Street's adages is: "No one ever went broke, holding Coke."
That's The Coca-Cola Company (NYSE:KO), not the bottler. Coke's shares closed Friday at $48.24 up 14 cents.
Sluggish sales, as well as competition from generic colas, and the U.S.'s trend toward the consumption of health-oriented, non-carbonated sports drinks, like Gatorade, have created a substantially different soft drink sector than a generation ago, when KO was dominant both domestically and internationally.
And that sluggishness has been reflected in Coke's stock price, which, for the most part, has been stuck in a $40-$55 range for about 6 years.
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