New Age Beverages Corp (NASDAQ: NBEV) headed up in the market yesterday and seems to be following the same positive movement in the market today. However, if you’re looking for news releases or SEC filings, there’s not any out there. Nonetheless, we believe that we have found the reason for the gains. Moreover, we also believe that now may be the perfect time to get involved. Today, we’ll talk about:
- Why NBEV is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Here’s Why NBEV Is Climbing
As mentioned above, New Age Beverages is having a pretty strong start to the trading session, following up on recent gains that we’ve seen on the stock. However, there hasn’t been any news released. So, what’s the deal?
It all starts with NBEV being a CBD drink play. The truth of the matter, when it comes to what’s in the mainstream, it’s really only one of two. However, the other CBD drink play, India Globalization Capital (IGC), was recently hit with bad news. Due to various red flags spotted by the NYSE, the company has been kicked off of the exchange.
Interestingly, this leaves one key player on the market in the CBD drink space, and NBEV is it. Perhaps more importantly, news may be just around the corner that sends this stock flying.
On November 13, New Age Beverages is expected to release its financial results for the most recent quarter. While earnings and revenue will be important, one of the keys that investors will be watching for is an update with regard to CBD-infused beverages. Recently, the company launched these products at a convenience store trade show. From then to now, the company has probably done quite a bit with pre-orders and other news associated with the CBD-infused beverages, but has remained quiet. As a result, investors will be looking for an update on this topic on the 13th of November, when earnings are released. Of course, if this update is positive, the stock could make a run through the roof.
What We’re Seeing From The Stock
With a potential catalyst around the corner, investors are clearly excited about New Age Beverages. This excitement can be seen in the movement in the price of shares. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:11), NBEV is trading at $4.80 per share after a gain of $0.27 per share or 5.96% 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 its CBD-infused beverages to market as these products have the potential to take the company to the next level. We’ll also be watching for other juicy data that will be released in less than two weeks. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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