In the past month, investors seem to have been quietly making a move for The Alkaline Water Company Inc (NASDAQ:WTER) stock and hence, perhaps it is no surprise that the company’s stock has rallied by as much as 18% during the period.
Trading Data
On Thursday, WTER stock ended flat at $1.6800 with more than 1.29 million shares, compared to its average volume of 1.67 million shares. The stock has moved within a range of $1.6700 – 1.7100 after opening the trade at $1.6800.
Recent News
It is the biggest alkaline water company of an independent nature in the United States and is also regarded as a clean beverage company. Yesterday, the company was in the news after it made an announcement with regards to the fact that it was going to start international distribution in the Canadian market by way of a partnership with the R&M Royal Palms Beverage Co Ltd.
It should be noted however that the partnership in question is of a non-exclusive nature. However, it might be a good idea at this point to take a closer look at the nature of the partnership.
R&M is going to be involved in the marketing and sales processes related to the brands that are going to be offered by The Alkaline Water Company. It is believed that the products are going to be marketed to some of big ticket premium retail outlets and also to sub-distributors across all the existing channels.
Key Quote
“As a result of continued growth in the United States and successful expansion into Mexico, we are now accelerating our growth into Canada,” said Ricky Wright, President and CEO of The Alkaline Water Company. “We’ve found a great Canadian partner in R&M Royal Palms Beverage Co. that will enable us to continue our international expansion. They have a leadership team with extensive experience in the beverage industry and a focus on independent ‘better-for-you’ beverage brands. They also have a network of thousands of stores, as well as e-commerce and home delivery platforms, and will market our brand to tens of thousands of other potential clients. Through R&M’s efforts, we look forward to introducing Deliciously Smooth™ Alkaline88® and A88 Infused® to Canada. Sales meetings have already been set and we are excited for our first entry into the Canadian markets.”
Technical Data
WTER stock is trading above the 20-Day and 200-Day Moving averages of $1.66 and $1.65 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.44. The stock is down 12% in the past 3-month.
