New Age Beverage Corp (NASDAQ: NBEV) is having an overwhelmingly strong trading session in the market today, and for good reason. The company announced that it has expanded its distribution to military commissaries worldwide. Today, we’ll talk about the announcement, what we’re seeing from the stock, and what we’ll be watching for with regard to NBEV moving forward.
NBEV Gains On Military Distribution
As mentioned above, New Age Beverages Corporation is having an incredibly strong day in the market today after announcing that it has expanded its distribution into all of the Military Commissaries around the world. In the announcement, NBEV said that it will be providing healthy alternatives across all their brands to active duty military personnel, retirees, and their families. In the release, the company said that this expanded distribution spans across a population of around 25 million people in more than 30 countries.
In a statement, Brent Willis, former United States Military Officer and West Point graduate and CEO of NBEV, had the following to offer:
“We believe it is a great initiative for the military to make an active choice to provide healthier alternatives for their patrons. Anything we can do, we will do to support our country’s finest. Our servicemen and their families make sacrifices for all Americans every day, and we are proud that we can support them.”
What We’re Seeing From the Stock
One of the first things that we learn when we start to dabble in the market is to pay close attention to the news. After all, the news causes the moves. With that said, it’s no surprise that with such positive news, we’re seeing strong gains out of New Age Beverages. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (12:53), NBEV is trading at $3.32 per share after a gain of $0.56 per share or 20.33% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
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 distribution to Military Commissaries and how this affects the company’s bottom line. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!