In Philadelphia has been approved a new law to impose a tax on all soft sugary drinks, which will increase the cost of Coca-Cola products. For example, the price of a two-liter bottle will grow by more than $1. The target of the new law is to increase the state budget. According to analysts' forecasts, the tax will bring to Philadelphia nearly $91 million a year. The law will come into force from the beginning of 2017.
The price increase had a negative impact on the Coca-Cola shares, which fell by 1.15%. The value continues to decline, which gives traders a chance for good earnings. Remember, that trading will be available during the American session, from 14:40 to 21:00 GMT time.
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