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Coca-Cola hits a record after 16 years

Its shares gain 3.4% last week as investors consider it a safe haven from recent volatility

Atlanta

COCA-COLA Co shares are hitting record prices for the first time in more than 16 years as investors seeking safety in stable stocks disregard the company's recent struggles.

The world's largest soft drink maker set all-time intraday highs three days last week, including a new record of US$44.87 last Friday in New York. Before that, Coca-Cola's last record was on July 15, 1998, when the stock reached US$44.47, adjusted for a subsequent split.

The milestone may seem curious at a time when chief executive officer Muhtar Kent is under fire for trimming expenses too slowly and consumers are abandoning soft drinks because of concerns about obesity and perceived health risks posed by artificial...

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