Reed’s, Inc. (REED) stock has skyrocketed to 9.53% in the premarket. However, the last trading session closed at $0.575 with a decline of 4.17%.
Flying Cauldron Named Official Drink of The Wizard Run
REED proclaims its sponsorship of The Wizard Run on 28th September 2021. It is a series of 1M, 5K, and virtual runs/walks that take participants on a wonderful trip full of wizardly sights, sounds, and even a detour down a magical alley with an augmented virtual reality experience. The inaugural run/walk will take place in Joplin, Missouri on October 2nd, with a subsidiary event in Springfield, Missouri on October 23rd.
Second Quarter 2021 Financial Results
On 12th August 2021, REED stock announced second-quarter 2021 financial results. Firstly, net sales grew by 4% to $11.3 million from $10.9 million the year before. The rise over the previous year is due to continuing volume growth for both Reed’s and Virgil’s brands. Secondly, Reed’s brand grew by 5% in volume while Virgil’s brand grew by 13%.
When compared to the same time the previous year, gross profit grew by 9% to $3.3 million. Thirdly, the gross margin climbed to 29 percent, up from 28 percent. Lastly, the operating loss was $3.7 million, up from $1.4 million the previous quarter.
REED Stock launches New Creative Campaign
On 12th August 2021, REED stock launched a new ad called “Real is Always Better.” The campaign will end up serving as a celebration of this brand’s rallying cry, including its summer mission: “Get Back to Real.” REED was established over 30 years ago on the principle that real ingredients—real ginger, no chemical preservatives, colors, or flavors—are always better, as well as the campaign will serve as a commemoration of the brand’s rallying cry, as well as its summer mission: “Get Back to Real.”
The campaign was launched in mid-July with a particular focus on summer hotspots on the East Coast. New creative ideas include video/radio ads, billboards, public relations, social media, sampling, and retail marketing. On the streets, Reed’s Green Machine will be making appearances at local beaches, golf courses, and events.
First Quarter 2021 Results by REED Stock
REED stock published first-quarter results 2021 on May 18, 2021. Firstly, net sales climbed by 28% to $12.1 million, up from $9.5 million the previous year. The rise over the previous year represents sustained volume growth for both Reed’s and Virgil’s brands. Thirdly, the Reed’s and Virgil’s brands also saw volume growth of 37 percent and 29 percent, respectively. This resulted in a 27 percent rise in core brand gross revenues over the prior-year period. When compared to the same time last year, gross profit grew by 34% to $3.9 million. Lastly, the gross margin grew to 32% in the second quarter, up from 30% in the first.
