The stock of Splash Beverage Group, Inc. (SBEV) is slightly down in the pre-market after the company announced its agreement with Walmart in a press release. The stock of SBEV was valued at around $1.61 in the pre-market losing more than 10% from the previously closed value. At the end of the last trading session, the stock closed at $1.80. The volume of the stock traded in the last trading session was around 143.59K shares.
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Reason for the SBEV stock decline
Splash Beverage Group, Inc. (SBEV) is a leading beverage company announced today that they have received a green signal from Walmart to sell their TapouT performance drink in Florida.
They will start with 47 Walmart stores in the first phase that is situated in the main cities. There are around 341 stores of Walmart in total in the state of Florida. This is the 2nd largest number of stores by the company in a single state in the U.S.
Splash Beverage Group, Inc. (SBEV) said that they are very excited with this Walmart’s green signal, and have started 2022 with huge momentum. Walmart is very sensitive in selecting a brand to showcase in its stores, they are very happy that Walmart offers TapouT to their shoppers and will make them compete with the biggest global beverage brands. They are extremely thankful to Walmart for the agreement and equally grateful to AB One who is their distribution partner. They are also thankful to the Anheuser Busch network because of their credibility with Walmart they certainly played an important role in the agreement. The agreement will make them expand their market share and will help them to grow at an exponential rate.
Effect on the stock
The stock of the company is currently in slight decline, the reason is not the agreement but it will gain its value as the regular trading session starts. The deal will bring a lot of new customers to the company so the stock price is expected to go upward in the future.
Conclusion
This is extremely good for the company to start the New Year on a positive note. This will not only give momentum to the company but also will increase its markets share.
