New Age Beverages Corp (NASDAQ: NBEV) has had a decent run in value in the market as of late for multiple reasons. First and foremost, the company is getting involved in the CBD space, which is driving a bit of investor interest. Also, recent takeover chatter suggesting that Coca-Cola might be interested in has expanded the gains. Now, the big question is, “Will these gains continue?” Today, we’ll talk about:
- The reasons NBEV has been on a tear for the top;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why NBEV Has Been Climbing
As mentioned above, New Age Beverages has seen quite a run over the past several trading sessions as excitement surrounding the ticker expands. It all started a short while ago when rumors broke that Coca Cola may be interested in taking the company over. Of course, acquisition news is always exciting and with the potential for an acquisition, the stock soared as rumors broke.
Shortly thereafter, NBEV issued a press release announcing that it would be unveiling its line of CBD-infused drinks relatively soon. At the moment, anything cannabis related seems to be driving investor interest, and that’s just what it did for the stock. Once again, the stock shot up.
Today however, there has been no news. Nonetheless, I believe that the gains are the result of the continued excitement among investors with regard to the topics mentioned above. Whether or not these gains will continue, well, no one quite knows. The continued growth in the value of the stock will have a lot to do with the success of its CBD-infused drinks as well as whether or not Coca Cola makes an offer. Nonetheless, investors and traders are cheering today as NBEV continues to reach for the stars.
What We’re Seeing From The Stock
With excitement brewing about the company’s CBD-infused beverages as well as a potential takeover on the horizons, New Age Beverages continues to soar in the market. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:31), NBEV is trading at $6.68 per share after a gain of $1.33 per share or 24.92% 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 continued work to bring CBD-infused drinks to market and how the move affects revenues. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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