Promising Area Of Growth - Singing Machine Expands Retails Presence With Walmart
Portfolio Pulse from Shivani Kumaresan
Singing Machine Company, Inc (NASDAQ:MICS) has launched a new party accessory product line, now available in 866 Walmart Inc (NYSE:WMT) stores nationwide. The new product, the Kids Celebration Microphone, is targeted at the children's party and event market. The product is now available at a retail price of $9.97. Following the announcement, MICS shares are trading higher by 24% at $1.96.
July 18, 2023 | 3:46 pm
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NEUTRAL IMPACT
Walmart is now selling Singing Machine's new product line in 866 stores nationwide.
While the addition of Singing Machine's new product line may increase sales for Walmart, the impact on Walmart's overall performance is likely to be minimal given the size and diversity of Walmart's product offerings.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Singing Machine's new product line in Walmart stores has led to a 24% increase in MICS shares.
The launch of a new product line in Walmart stores, a major retailer, is a significant development for Singing Machine. This has led to increased investor confidence, reflected in the 24% increase in MICS shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100