Winc (WBEV) Stock: Why The Price Jumped Up

By Amit Chowdhry ● Mar 12, 2022
  • The stock price of Winc Inc (NYSEAMERICAN: WBEV) increased by 13.18% in the most recent trading session. This is why.

The stock price of Winc Inc (NYSEAMERICAN: WBEV) increased by 13.18% in the most recent trading session. Investors responded positively to what was recently revealed in a Form 8-K filing.

The filing said:

On March 9, 2022, Winc, Inc. (the “Company”) received confirmation that the maturity date of the Company’s $7.0 million line of credit under the Company’s Credit Agreement, by and between the Company, BWSC, LLC and Banc of California, dated as of December 15, 2020 (the “BoC Credit Agreement”), was approved for a 90-day extension to June 30, 2022. The full text of the corresponding amendment to the BoC Credit Agreement will be filed as an exhibit to a subsequent report of the Company filed with the Securities and Exchange Commission.

Spartan Capital analyst Barry Sine also recently initiated coverage on Winc with a “Buy” rating and a price target of $10.00.

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