Why NuZee Stock Is Skyrocketing Today
Portfolio Pulse from Akanksha Bakshi
NuZee, Inc. (NASDAQ:NUZE) has announced a five-year global licensing agreement with Stone Brewing. Under the agreement, NuZee will co-manufacture and distribute Stone Brewing specialty coffee products nationwide and aims to build a strong direct-to-consumer business. The new product line is expected to launch in Q3 2023. Following the announcement, NUZE shares are trading higher by 19.4% at $10.92 premarket on Friday.
July 07, 2023 | 1:29 pm
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POSITIVE IMPACT
NuZee's stock price is likely to increase in the short term due to the announcement of a five-year global licensing agreement with Stone Brewing.
The announcement of a five-year global licensing agreement with Stone Brewing is a significant development for NuZee. This partnership will allow NuZee to co-manufacture and distribute Stone Brewing specialty coffee products nationwide, which is likely to drive significant revenue growth for the company. As a result, investors are reacting positively to this news, leading to a 19.4% increase in the company's stock price in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100