New Age Beverages Corp (NASDAQ: NBEV) is having an incredibly strong start to the trading session this morning after the company announced that it is expanding. In a press release, the company said that it is expanding with Walmart.
As you could imagine, the news excited investors, pushing the stock on a run for the top. Today, we’ll talk about:
- The move into Walmart;
- what we’re seeing from NBEV stock as a result; and
- what we’ll be watching for ahead.
NBEV Announces Expansion With Walmart
As mentioned above, New Age Beverages is having a great start to the trading session this morning after announcing expansion news. The announcement came by way of press release early this morning.
In the release, NBEV said that it will be expanding the distribution of its Marley brand with the world’s largest retailer, Walmart. This news represents the first national account penetration for NBEV as consumers continue to shift toward a more healthy diet.
The Marley brand was acquired by the company in 2017. It then reinvented the brand a launched it with organic mate, a cold brew that is now gaining national distribution. In fact, in the release, the company said that the product has started to ship to Walmart distribution centers across the US.
In a statement, Craig Thibodeau, VP of Key Accounts for NBEV, had the following to offer:
This is such a great accomplishment for New Age to gain its first national distribution, and to do so with the world’s largest retailer in Walmart. This is just the first initiative that we expect to do with them on the Marley brand and other New Age products on which we are in active discussions. We know Walmart is equally as committed as New Age to providing healthier products for their customers, and we expect to make the full portfolio of New Age’s better-for-you products available as we expand the relationship.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of New Age Beverages, the news proved to be overwhelmingly positive.
After all, with this announcement, investors learned that the company’s products will be sold by the world’s largest retailer. Of course, this is leading to expectations of growing revenue and improved earnings.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:48), NBEV is trading at $5.42 per share after a gain of $0.64 per share or 13.27% 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 seeing how well the Marley brand drinks in Walmart stores. Nonetheless, we’ll continue to following the story closely and bringing 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!