Why Jupiter Wellness Stock Is Surging Today
Portfolio Pulse from Shivani Kumaresan
Jupiter Wellness Inc (NASDAQ:JUPW) has entered into an asset purchase agreement with GBB Drink Lab Inc. The deal includes all operating assets related to GBB Drink Lab, including the Safety Shot beverage, valued at $53 million. The Safety Shot business segment is expected to generate $25 million in revenues and $4 million in net income by Q1 2024 for Jupiter Wellness. The global hangover cure products market is expected to reach $4.67 billion by 2028.
July 10, 2023 | 3:57 pm
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Jupiter Wellness's acquisition of GBB Drink Lab's assets, including the Safety Shot beverage, is expected to significantly boost its revenues by 2024.
The acquisition of GBB Drink Lab's assets, including the Safety Shot beverage, is a strategic move by Jupiter Wellness to tap into the fast-growing hangover remedy market. This is expected to significantly boost its revenues by 2024, thereby potentially driving its stock price up.
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