New Age Beverages Corp (NASDAQ: NBEV) is having an incredibly strong start to the trading session this morning, and for good reason. Various reports are surfacing suggesting that the company is in talks with retailers about pre-ordering its coming CBD-infused beverages. As you can imagine, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The talks with retailers;
- what we’re seeing from NBEV as a result; and
- what we’ll be watching for ahead.
NBEV Gains On Talks With Retailers
As mentioned above, New Age Beverages is having an incredibly strong start to the trading session this morning as news is breaking that the company is in talks with retailers. According to various reports, these conversations surround pre-orders of the company’s coming lineup of CBD-infused beverages.
In a recent press release, NBEV announced that it would be launching its line of CBD beverages at a convenience store trade show that starts on October 7, 2018. This news excited investors and the stock has seen a pretty strong run in the market since. After all, cannabis-related stocks are the tech stocks of 1999.
Nonetheless, with the company in talks with retailers about possible pre-orders of its CBD-infused beverages, investors are excited, thinking about the revenue that is likely to be generated thrugh these beverages relatively soon.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news moves the market. In the case of NBEV, the news proved to be overwhelmingly positive. After all, the conversations with retailers will likely lead to revenue ahead. So, it comes as no surprise that investors are excited, sending the stock screaming for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:46), NBEV is trading at $9.08 per share after a gain of $0.53 per share or 6.20% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NBEV. In particular, we’re interested in following the story surrounding the company’s coming CBD drinks as this may be what brings the company to the next level in terms of revenue. Nonetheless, we’ll continue to keep a close eye on the news and bring it to you as it breaks!
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