The rapid descent into new lows for the S&P 500 this week has dragged down nearly every stock, including some of the favorite names of Wall Street analysts. That could present an opportunity for investors looking for quality stocks and future upside in a volatile environment. Time to take a closer look at Splash Beverage Group Inc (NYSE:SBEV).
Splash Beverage Group, Inc. (NYSE:SBEV), a portfolio company of leading beverage brands, recently announced an offering of common stock for aggregate gross proceeds of approximately $3.1 million, prior to deducting underwriting discounts, commissions, and other offering expenses.
Robert Nistico, Splash Beverage Group’s Chairman and CEO, commented, “This capital raise is to ensure we have sufficient inventory to fill orders and support the significant gains in distribution and chain retail authorizations for all our brands. We have announced numerous distribution and retail chain agreements recently, and it is critical to have sufficient inventory to support this activity, Additionally, it is imperative we do not run out of stock at this inflection point as our brands accelerate at retail, and we continue to add chains retail business … this is a very exciting time for us”.
As previously announced, the Company has recently entered into distribution and retail chain agreements with Target department stores, am/pm, Circle K, 7-11, UNFI, Carey Distributors, Wantz Distribution, Central Distribution, Buck Distributing Lohr Distributing, and others. SBEV is currently trading at $1.39 and has a 52-week high of 5.6$. Considering the recent developments and progress taking place in the company, it could be just a matter of time before SBEV starts to receive attention from Wall Street. For more information on SBEV, visit the company's website at https://splashbeveragegroup.com/.
Some of the other notable stocks in the beverage industry to consider would be Monster Beverage (NASDAQ: MNST), Celsius Holdings (NASDAQ:CELH), Fomento Economico (NYSE:FMX), Alkaline Water Co (NASDAQ:WTER), National Beverage (NASDAQ:FIZZ), Coca-Cola Femsa (NYSE:KOF) and Coca-Cola (NYSE:KO).
References: All information pertaining to SBEV was obtained from the press releases published under the company profile page at https://finance.yahoo.com/quote/SBEV?p=SBEV&.tsrc=fin-srch.
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