Shares of the Splash Beverage Group, Inc. (SBEV) stock were soaring in the current market trading session today on January 11, 2022. SBEV stock price saw an uptrend of 57.01% to reach $1.68 a share at the time of this writing. The trading volume on the last check was 45,815,230, far higher than the average trading volume. Lets’ deep dive to understand the reason behind this bull.
What’s Happening?
SBEV stock became bullish after the company announced that it has got authorization to sell its TapouT performance drink in Florida. The company will initiate the selling with 47 Walmart stores that are in major metropolitan regions. In Florida, Walmart has 341 stores, the second-largest number by the state in the United States. Walmart authorization is an important milestone for the company and a good start to the year 2022. Walmart is very selective in choosing the brand to offer their shoppers. The selection of TapouT is the validation that this band can compete with the biggest brands across the world. The shareholders of the SBEV stock are happy and responding positively to this news.
Previous News of SBEV stock
On January 5, 2022, the company announced that its design agency won the award of Graphic Design USA for a packaging design for its TapouT performance hydration-recovery drink. The design agency has won the award among 11,000 competitors. The design communicated the lifestyle position of the TapouT and the unique functional benefits of the performance drink over other sports drinks.
Financial View of the SBEV stock
- According to third-quarter 2021 financial results, the company generated $2,827,393 in revenue. This represents a whopping increase of $2,134,419 or 308% as compared to $692,974 revenue in the same period of the previous year.
- The company reported $8,254,078 in revenue in the first nine months of 2021. This represents a $7,036,369 or 578% increase from the same tenure of the previous year.
- Loss from the continuing operations in the third quarter of 2021 was $12.2 million for the SBEV stock. $8.8 million consisted of non-cash transactions.
- Loss from continuing operations reached $23.2 million in the first nine months of 2021. $13.3 million loss resulted from the non-cash transactions.
Conclusion
The recent development of the company has made the SBEV stock bullish in the current market today. In the past six months, the stock has lost 50.14%.
