Bulletin
Investor Alert

Market Pulse Archives

April 8, 2019, 1:11 p.m. EDT

New Age Beverages stock soars on news to sell certain Marley drinks at Walmart

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    New Age Beverages Corp. (NBEV)
  • X
    Walmart Inc. (WMT)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane

Shares of drinks company New Age Beverages Corp. /zigman2/quotes/200595917/composite NBEV +6.21% soared more than 22% Monday, after the company said it has reached an agreement to sell certain products at retail giant Walmart Inc. /zigman2/quotes/207374728/composite WMT -0.45% . The company said it will start selling three flavors of Marley Mate, an organic yerba mate beverage, in early April. "This is just the first initiative that we expect to do with them on the Marley brand and other New Age products on which we are in active discussions," Craig Thibodeau, vice president of key accounts for New Age said in a statement. The company acquired the Marley portfolio in 2017 and last year announced plans for a line of drinks infused with CBD, a non-intoxicating ingredient in cannabis. Those plans have been put on hold after the passage of the December Farm Bill, which legalized hemp but not CBD, which has now come under the purview of the U.S. Food and Drug Administration. That agency has said it is not allowing CBD to be added to food, drinks or cosmetics for now. New Age said it is planning to launch a Marley Mellow Mood with CBD globally in 2019. A spokesperson said the company is planning to fully comply with FDA rules. The FDA is to hold talks this month on how to regulate CBD, which it views as a drug, because it is part of the only cannabis-based drug to receive FDA approval as a treatment for severe forms of childhood epilepsy. New Age shares have gained 178% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.62% has gained 10%.

/zigman2/quotes/200595917/composite
US : U.S.: Nasdaq
$ 1.71
+0.10 +6.21%
Volume: 2.14M
June 5, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$149.07 million
Rev. per Employee
$304,998
loading...
/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 121.56
-0.55 -0.45%
Volume: 13.11M
June 5, 2020 4:00p
P/E Ratio
23.12
Dividend Yield
1.78%
Market Cap
$345.81 billion
Rev. per Employee
$223,654
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,193.93
+81.58 +2.62%
Volume: 4.80B
June 5, 2020 5:07p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.