New Age Beverages Corp (NASDAQ: NBEV) is having a great day in the market today. However, if you go digging for press releases, you’ll find that the company hasn’t issued one. Nonetheless, there is a very good reason for the gains. Today, we’ll talk about:
- Why NBEV is soaring;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why NBEV Is Headed Up
As mentioned above, New Age Beverages is having a relatively strong day in the market today, but the company has released no news. The reason for the gains however, is clear. In late-September, NBEV announced that it would debut a new portfolio of CBD-infused beverages at the upcoming North American Convenience Store Sow (NACS). That show will be held in Las Vegas between October 7th and October 10th. That means that the debut of the company’s line of CBD drinks will be taking place in just three days.
CBD has garnered quite a bit of investor interest. Much of this interest came after the United States Drug Enforcement Administration announced that it had classified CBD as a Schedule 5 substance. This means that in the DEAs eyes, CBD has the lowest potential for abuse. Ultimately, the news means that CBD-related products will be able to get to a wider audience, making the potential for this market grow overnight.
What We’re Seeing From The Stock
As investors, we know that anticipation of good news can lead to big gains. This is especially the case when we know for sure that the news is coming. With the debut of New Age Beverages’ CBD-infused beverages just days away, it only makes sense that investor excitement is hitting the stock, sending it screaming for the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:38), NBEV is trading at $7.99 per share after a gain of $0.69 per share or 9.45% 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 CBD-infused drinks and how well commercialization goes after the debut. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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