The Jones Soda Co (OTCMKTS:JSDA) stock could well be one to watch out for today after it had emerged as one of the major gainers on Wednesday and clocked gains of as much as 10% amidst heavy interest.
On Wednesday, JSDA stock surged 9.78% to $0.2750 with more than 192.65K shares, compared to its average volume of 89.85K shares. The stock moved within a range of $0.2525 – 0.3190 after opening trade at $0.2525.
Jones Soda Expands Retail Footprint to All 1,000+ Target Cafés Nationwide
The craft soda company came into focus yesterday after it announced that it had been successful in getting another retail listing. The latest retail listing would be at the Target Café locations all over the United States. As many as four of the company’s most popular flavors are going to be made available at more than 1000 Target Café outlets and it goes without saying that it was a significant new milestone for Jones Soda.
This particular placement of the product is going to provide customers with another new purchase option for Jones Soda products. In addition to that, it ought to be noted that this move is also part of the company’s strategy to both boost growth and also create awareness about the brand among customers. Eric Chastain, the President of the company spoke about the matter as well. He noted that the decision from Target to feature Jones Soda products was another illustration of the strength of the company’s brand.
“Target’s decision to feature Jones Soda products in their Cafés speaks to the strength of the Jones brand and Target’s confidence that our cane sugar sodas will perform well against the mainstream competition,” said Eric Chastain, President of the Jones Soda Beverage Division. “Early sales data is already validating those expectations, with volumes exceeding initial projections. We believe this strong performance supports the idea that Jones’ variety of flavors, brand personality, and constantly changing labels resonate with current fans and new fans alike.
JSDA stock is trading below the 20-Day and 50-Day Moving averages of $0.28 and $0.33 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.43. The company has a total market capitalization of $27 million.