SBEV stock surged 30% in morning trade on January 14, 2022, after the company announced a deal with Walmart to sell its product in Florida stores.
Splash Beverage Group Receives Authorization for TapouT in Walmart Stores Across Florida Metropolitan Areas
On January 11, 2022, Splash Beverage Group, Inc. (NYSE American: SBEV), a portfolio company of leading beverage brands, announced it has received authorization to sell its TapouT performance drink in Florida beginning with 47 Walmart stores located in major metropolitan regions. Walmart has approximately 341 stores in the state of Florida, the second largest number of stores by state in the U.S.
“We are thrilled with this Walmart authorization, and this is a wonderful way to start 2022. Walmart is extremely selective in the brands they choose to offer their shoppers and selecting TapouT is great validation that TapouT can compete at the highest level with the biggest global brands,” said Robert Nistico, Splash Beverage Group’s Chairman and CEO. “We are grateful to Walmart for the opportunity, and equally grateful to our distribution partner AB One and the Anheuser Busch network, who’s credibility with Walmart we are certain played an important role in our selection. The opportunity for significant growth within the Walmart Florida market and beyond is one that we will eagerly seize, and we appreciate the validation and confidence Walmart has demonstrated with us and the TapouT brand”.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash’s strategy is to rapidly develop early stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution.
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📈 SBEV Stock Technical Analysis
Large players volume has exploded higher which is bullish. The short-term trend is positive, while the long-term trend is neutral. So this is evolving in the right direction. Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up. SBEV is currently trading in the middle of its 52-week range. The S&P500 Index however is trading in the upper part of its 52-week range, so SBEV is lagging the market slightly.
There is support at 2.11 from a horizontal line in the daily time frame. There is also support at 1.04 from a horizontal line in the daily time frame. The technical rating of SBEV is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when SBEV stock consolidates and is a good long entry.