Diedrich Coffee Shares in Overdrive

IRVINE — Shares of Diedrich Coffee Co. continued their upward march Monday, rising 36%, or $2.38 a share, to $9. More than 250,000 shares traded hands, five times the average daily volume. A week ago, shares of the Irvine-based coffee chain were trading at $4.63.

There has been no news from Diedrich since Dec. 22, when the company announced that the addition of several new commercial accounts would help its wholesale division post record sales this year.

Last month, former Taco Bell Chairman John Martin signed on as Diedrich’s chairman and bought a stake in the company, which is trying to right itself after an expansion plan flopped last year.

Diedrich Chief Executive Tim Ryan said, “We have nothing new to announce. I think it’s just the fact that John and I are there. The easy part is showing up. The hard part is delivering.”