Shares of Keurig Green Mountain surged 7.6% on Monday, making it TheStreet's Move of the Day. TheStreet's Joe Deaux says the company known for its single-cup coffee brewing machines surged to the top of the S&P 500 after a regulatory filing reported that Coca-Cola increased its controlling stake in Keurig to 16%, or about 26 million total shares. In February the soft drink maker grabbed an initial position of 16.7 million newly issued shares for $1.25 billion, and said it would be able to increase that position to as much as 16%. The move comes as Coca-Cola is adapting to the changing tastes of consumers who are putting down their soda cans for alternative options.
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