Shares of Crumbs Bake Shop Inc (NASDAQ:CRMB) rose as much as 74% a day after Starbucks Corp (NASDAQ:SBUX) agreed to sell its brewed coffee at the cupcake retailer's stores.
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Starbucks beverages will be made available at all Crumbs stores in the New York area from September, and later at all 51 locations across the United States, Crumbs CEO Julian Geiger said in a statement.
Crumbs shares were up 64% at $3.36 in morning trade on Tuesday. They stock rose to a four-month high of $3.57 earlier, making it the top percentage gainer on the Nasdaq. Shares of Starbucks were up about 3% at $44.58 on the New York Stock Exchange.