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Caribou Coffee stock climbs 300 percent so far this year

You couldn’t have bought a cup of coffee with a Caribou Coffee share at the start of the year, when they were selling at less than $1.50. But the company’s stock is up almost 300 percent so far in 2009, one of several coffee stocks on the rise.

A share of Caribou Coffee wouldn’t have bought a small latte at the start of the year, when the company’s stock was selling for under $1.50.

Despite the economy, however, Caribou’s stock is up almost 300 percent since then. It’s one of several coffee stocks heating up this year, USA Today reports.

Starbucks, Green Mountain, and Peet’s Coffee & Tea have also seen the value of their stock climb. One researcher says coffee is recession-resistant. People might trade down and brew more at home, but “people will still buy their coffee.”