In the past few days, the MusclePharm Corporation (OTCMKTS:MSLP) stock has been in the middle of a strong move and the situation remained the same on Thursday as the stock ended the day with gains of 9%. That took the gains made by the stock in the past week to as much as 6%.
Trading Data
On Thursday, MSLP stock moved up 8.62% to $0.30 with more than 54.2K shares, compared to its average Thursday of 15.9K shares. The stock moved within a range of $0.2754 – 0.3440 after opening trade at $0.2754.
MusclePharm Announces Launch into Ready-to-Drink Protein Category
The company, which is involved in providing lifestyle branded sporting supplements and sports nutrition solutions, came into focus yesterday after it announced that it was getting into the ready to drink protein space. To that end, MusclePharm has made plans for the launch of its new protein drink at some point this summer.
The high protein beverage that the company is planning to launch is going to be marketed under the MusclePharm brand. It is going to offer as much as 20 mg of protein and is going to be sugar free as well.
On the other hand, it is also necessary to point out that the product is also going to be made available in a variety of flavours. It could well prove to be one of the more important moves from the company this year and it may be a good idea for investors to keep track of the MusclePharm stock.
Key Quote
Mr. Ryan Drexler, the Chairman of the Board of Directors and Chief Executive Officer, stated, “I am very excited for our company to enter into the fast-growing ready-to-drink protein category as we build upon our vision to become the leading nutrition and beverage company. We believe our beverage team’s industry expertise and experience, along with partnering with a first-in-class production company, will set this new product apart from the competition and make a huge impact in the category. We could not be happier with the partnership we have formed to bring what we believe will be the best tasting, ready-to-drink protein product on the market this coming summer of 2022.”
Technical Data
MSLP stock is below the 20-Day and 50-Day Moving averages of $0.32 and $0.37 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.83.
