The wine and beverage industry has been in considerable focus among investors in recent months and for good reason too. As the world gets back to normal following the pandemic, people are going out more, and hence, the sales of such products have started going up as well. In such a situation, it is only natural for investors to start taking a look into companies that are involved in that sector.
There are many companies to choose from and one of the companies that could be looked into at this point in time is Truett-Hurst Inc (OTCMKTS:THST). It may be a good time for investors to consider taking a look at the nuts and bolts of the company’s business as well as some new developments which may have a bearing on the company’s stock.
Trading Data
On Thursday, THST stock ended flat at $0.3650 with more than 500 shares, compared to its average volume of 890 shares. The stock moved within a range of $0.3650 – 0.3650 after opening trade at $0.3650.
About The Company
Truett-Hurst mainly operates through its subsidiary unit H.D.D. LLC. The subsidiary company is involved in the production, marketing, and sales of wines in the vast United States market. The company is involved in the production of some of the better-known red blends like Sauvignon Blanc, Chardonnay, Syrah, Zinfandel, Petite Sirah, and Pinot Noir among others. The products are then offered under three main brands- Truett-Hurst, VML, and Svengali.
The products are mainly sold through wine tasting rooms, wine-related websites, and wine clubs. Truett-Hurst had been established back in 2007 and is based out of Healdsburg in California.
Truett-Hurst, Inc. Announces Appointment of New Chief Executive Officer
The company had been in the news earlier on in the week on August 3 when it announced that it had announced a new Chief Executive Officer in the form of Emilie Eliason. The appointment had gone into effect back on August 1, 2022. It should be noted that after the announcement was made, the Truett-Hurst stock had rallied and it was perhaps an indication that the market participants were happy with the appointment.
At the end of the day, the appointment of a new Chief Executive Officer is almost always a major event at any company and the response of the market is a good indication of how the appointment has been. It should be noted that Eliason is also a member of the board at Truett-Hurst.
Prior to taking up the top job at Truett-Hurst, Eliason had been the General Manager at Geodesy Wine, which is described as a social enterprise wine company. The money that is generated from the vineyards, as well as the company’s wine operations all, go towards financing a development and leadership program for young women. Prior to that, Eliason had been at Crimson Wine Group, where she was the Vice President of Marketing, Consumer Sales, and Innovation.
During her sting at Crimson Wine Group, she had been responsible for bringing new wines and experiences to the market. She had served as the Vice President of Marketing at J Vineyards & Winery prior to that. As one can see, the new Chief Executive Officer of Truett-Hurst has extensive experience in the industry and that may be the reason behind the appointment.
Technical Data
THST stock is trading below the 20-Day and 50-Day Moving averages of $0.0014 and $0.0018 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0019. The company has a total market capitalization of $6.97 million. The stock is up 41% over the past month.
