It was a fairly good day in the markets for investors in the Kona Gold Beverage Inc (OTCMKTS:KGKG) stock as it attracted the attention of investors significantly and ended up with gains of 3% for the day. That rally in the stock took the gains made in the past week to as much as 7% and it is perhaps a good time for investors to take a keener interest in it.
Trading Data
On Tuesday, KGKG stock gained 3.40% to $0.0061 with more than 50.70 million shares, compared to its average volume of 21.42 million shares. The stock moved within a range of $0.0053 – 0.0065 after opening trading at $0.0060.
Kona Gold Beverage, Inc. Begins Selling Ooh La Lemin Sparkling Lemonades in Walmart Stores
The company is involved in the development of CBD and hemp based functional beverages. Yesterday, the company announced that is fully owned subsidiary company Gold Leaf Distribution had started selling its latest brand Sparkling Ooh La Lemin Lemonades in Walmart stores which are located in the state of South Carolina.
It should be noted that selling the product from the Walmart stores in the state could prove to be a massive boost to Kona Gold and hence, the reaction from the investors was understandable. At this point in time, the total number of Walmart stores in the state stands at 110 and Gold Leaf is going to be responsible for selling as many as 6 flavours under its Sparkling Ooh La Lemin Lemonades brand at the stores.
Key Quote
“This is a huge milestone for not only our Kona Gold subsidiary, but also our Gold Leaf Distribution subsidiary,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “Kona Gold now has all 6 flavors of our new Sparkling Ooh La Lemin and all 4 flavors of our original Ooh La Lemin Lemonades authorized in Walmart nationwide. On top of that, Gold Leaf, our Company owned distribution company, will be distributing all 10 SKUs to Walmart’s across South Carolina. This is an exciting opportunity for both subsidiaries and has the potential to add big, additional bottom line revenue. We are excited to roll both lines of Ooh La Lemin out with our current and new distribution partners as well.”
Technical Data
KGKG stock is trading above the 20-Day and 50-Day Moving averages of $0.0061 and $0.0056 respectively. However, the stock is trading below the 200-Day moving average of $0.0128.
