The beverage sector has been growing at a steady clip in recent times and there are many companies in the sector that have seen their stocks perform strongly over the past weeks. One such company is Jones Soda Co (OTCMKTS:JSDA), which has seen its stock deliver gains of as much as 20% over the course of the past month.
On Wednesday, JSDA stock gained 0.78% to $0.2730 with more than 69K shares traded, compared to a volume of 248K shares. The stock moved within a range of $0.2500 – 0.2740 after opening trading at $0.2699.
About Jones Soda
The company is one of the major soda manufacturers and in addition to that, it also has a subsidiary that is focused on cannabis-based products. Jones Soda manufactures and distributes high-end craft sodas under two main brands, Lemoncocco and Jones Soda. In addition to that, it also manufactures and markets a wide range of cannabis products under the Mary Jones brand. The soda line from the company is sold in North America and the products are available in glass bottles, cans, and also fountains. The products are sold through retail outlets, restaurants, and other channels.
Kiva Sales And Service Secures Distribution Partnership WITH Jones Soda co.
As it happens, the company was in fact in the news yesterday and it may be a good idea for investors to take a look at the development. The company announced yesterday that it had managed to strike up an exclusive distribution partnership agreement with the firm Kiva Sales and Service. Kiva is the operator of one of the leading sales and distribution platforms meant for dispensaries. The platform offers dispensaries a complete range of the best-in-class brands and the range is curated. Jones Soda went into this agreement in order to launch its own cannabis-laced beverages under the Mary Jones brand in the California market.
It is one of the most lucrative markets in the world for cannabis-related products and the news of the deal could in fact prove to be a positive one for many investors. Bohb Blair, who is the Chief Marketing Officer of Jones Soda, noted that the partnership with Kiva is going to allow the company to ‘hit the ground running’ with regards to the launch and make sure that distribution of the product can happen in a timely manner.
“We couldn’t be more excited to share Mary Jones with our fans, budtenders, and retailers throughout California,” stated Bohb Blair, CMO, Jones Soda. “Partnering with KSS has allowed us to hit the ground running and ensure timely distribution and service to the top dispensary locations throughout the state.”
JSDA stock is trading below the 20-Day and 50-Day Moving averages of $0.26 and $0.28 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.64.