Craft soda manufacturing company Jones Soda Co (OTCMKTS:JSDA) is one of the more innovative companies in the soda industry and over the course of the past month; the company’s stock has been in the middle of a steady rally. During the period, investors piled on to the stock in a big way and sent it soaring by as much as 25%. In such a situation, it could be a good idea for investors to take a closer look at the company and recent developments.
Trading Data
On Monday, JSDA stock fell 3.33% to $0.29 with more than 23K shares, compared to its average volume of 236K shares. The stock moved within a range of $0.2900 – 0.3048 after opening trade at $0.3048.
About The Company
In addition to craft soda manufacturing, Jones Soda is also involved in the cannabis products space by way of a subsidiary unit. The company is involved in marketing two high-end craft sodas under the brands Lemoncocco and Jones Soda. On the other hand, its subsidiary sells cannabis products under the Mary Jones brand.
The soda products manufactured by Jones Soda are sold throughout the expanse of North America in cans, glass bottles and also through fountains at restaurants, beverage retail stores and other establishments. Jones Soda is based out of Seattle in Washington.
Recent News
There was no news about the company yesterday but last week on June 22, Jones Soda had come into the news cycle and it may be a good time for investors to consider taking a look into it. On that day the company announced that it had gone into an exclusive partnership with the firm Kiva Sales and Service.
Kiva Sales and Service operates one of the leading distribution and sales platforms in the United States, which offers dispensaries a full range of carefully selected brands which are the best in their categories. By way of this partnership, Jones Soda is going to look into launching its cannabis-laced beverages, sold under the Mary Jones brand, in the state of California.
California remains one of the most lucrative cannabis markets in the country and a move into the state represents a significant step for Jones Soda. It now remains to be seen if the stock can manage to hold on to its momentum in the coming days and add to its gains.
Technical Data
JSDA stock is trading above the 20-Day and 50-Day Moving averages of $0.27 and $0.27 respectively. However, the stock is trading below the 200-Day moving average of $0.63.
