Oatly Stock Surges Following Partnership Announcement with Insomnia Cookies
Oatly Group AB (Nasdaq: OTLY), the “world’s largest oat drink company,” known for its witty marketing campaigns, has announced a new collaboration in the US with Insomnia Cookies. Present at all 250+ locations across North America, Oatly’s 11oz Original and Chocolate Oatmilks are now featured alongside Insomnia Cookies’ assortment of signature warm cookies, desserts, and ice creams. Stock surge follows announcement Following a steady decline since mid 2021, Oatly’s stock surged by well over 30% after the announcement of the new partnership and has since leveled out. The company has been shifting toward an “asset-light supply chain strategy” in an effort to boost profitability and has stated that it is on track to post profits this year. Part of this strategy has included transferring plant …