REED Stock: Over 23% Increase Explanation

By Amit Chowdhry ● May 27, 2021
  • The stock price of Reed’s, Inc. (NASDAQ: REED) increased by over 23% during intraday trading this morning. This is why it happened.

The stock price of Reed’s, Inc. (NASDAQ: REED) — the makers of a popular ginger beer — increased by over 23% during intraday trading this morning. Investors are responding positively to the company announcing the launch of its flagship Extra Ginger Beer in 12 oz. cans led by the expansion into over 1,600 Walmart Mixer Sets, marking a secondary shelf placement for Reed’s.

As the leading ginger beverage brand in the Unites States for more than 30 years, Reed’s all-natural Ginger Beer is crafted with REAL fresh organic ginger in a Jamaican-inspired recipe. And previously only available in glass bottles, Reed’s Extra and Zero Sugar Extra Ginger Beer are now available in 12 oz. cans.
KEY QUOTE:

“We’re excited to introduce America’s #1 Ginger Beer in cans. This new format brings value and opens the door for growth opportunities with current retail customers, including Walmart. It also satisfies an increasing consumer demand for canned packaging, and provides entry to many additional retail channels. For customers, this innovation expands the Ginger Beer mixer set by now making available an all-natural, premium Ginger Beer in recyclable cans. The expansion of Reed’s Ginger Beer into 12 oz. cans is the next step in the company’s strategy to increase retail presence in mixer sets, liquor stores and on-premise channel accounts across the country.”

— Norman E. Snyder, CEO of Reed’s

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.