One of the stocks which could come into focus this morning among investors is that of 1812 Brewing Company (OTCMKTS:KEGS), which ended up with gains of as much as 20% on Thursday. As it happens, the rally in the stock was brought about by a key announcement from the company and investors could do well to take a look into it.
On Thursday, KEGS stock surged 20% to $0.0003 with more than 127.16 million shares, compared to its average volume of 41.67 million shares. The stock moved within a range of $0.0001 – 0.0003 after opening trade at $0.0002.
1812 Brewing Company Commissions Brewhouse Acquired in Milwaukee Auction
1812 Brewing Company announced that it had been successful in finally commissioning the Premier Stainless 3 vessel 30 barrel brewing system. The system had actually been acquired by the company back in the fourth quarter of 2020 in Milwaukee, Wisconsin.
In this situation, it ought to be noted that the Premier Stainless system is designed in such a way that it could produce as much as 1250 case equivalents of beer during the course of a specific brewing season. The Chairman and Chief Executive Officer of the company Tom Scozzafave spoke about the development as well.
He noted that the company had been relentless in its efforts to expand the legacy brewing systems that it already had in place. Now, that the Premier Stainless brewing system had been added, it could lead to even more efficient beer production.
Tom Scozzafava, Chairman and CEO of KEGS, stated, “We initiated the Company’s transition away from using “contract” brewing partners to becoming an entirely self-sufficient brewery just as what would be known as the Covid-pandemic came into the public domain. Nonetheless, in the face of limited personnel, parts shortages and unbelievably long lead times, we persevered and relentlessly commissioned the GAI/Makro bottle filler and labeler, the move and expansion of the legacy brewing systems, and now, finally, the Premier Stainless 30 barrel brewhouse.”
KEGS stock is trading above the 20-Day and 50-Day Moving averages of $0.0003 and $0.0005 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0020. The company has a total market capitalization of $1 million.