MSN: Boston Beer Shares at Record Highs
From MSN Money:
Boston Beer (SAM -1.13%) is doing everything right this year.
Take a look at its extraordinary stock run. Since the beginning of October, shares have soared 40% to close at $101.31 Wednesday. The stock price has never been this high.
Why is the maker of Sam Adams beer so hot?
The beer industry has seen an unusual phenomenon since the recession of 2008. Even with high unemployment and tightened household budgets, beer drinkers showed a striking preference for more expensive craft beer.
Think of it this way. People don't have as much money to spend on entertainment. They aren't going to as many restaurants, concerts or sporting events. But if they have to stay home, they're at least going to do so with a beer that tastes good. So they'll pick up a craft beer as a small treat.
For the full article, visit MSN.com.