Jones Soda Co (OTCMKTS:JSDA) on October 21, 2022, confirmed expanding the brand of cannabis-infused sodas with a new 100mg THC product in California this month. The product will be launched in four Jones fan-favorite flavors. The fresh cannabis beverage will be packaged in resealable and child-resistant, multi-serve cans.
Trading Data
On Friday, JSDA stock soared 5.53% to $0.3799 with 64.62K shares, compared to its average volume 100.02K shares. The stock moved within a range of $0.3150 – 0.3799 after opening trade at $0.3301.
Mary Jones Expands Cannabis-Infused Soda Line with New 100mg Product
The packaged ‘tallboy’ cans will deliver THC-infused versions of Berry Lemonade, Jones’ Root Beer, Green Apple, and Orange & Cream sodas. The flavors have been the top sellers for the firm in the last 25 years. Every flavor tastes like the mainline Jones Soda counterpart, which can be attributed to award-winning Jones flavor scientists.
Brooks Jorgensen, President at Kiva Sales & Service said that the launch of Mary Jones 10mg bottles was a successful brand launch at KSS. Jorgensen confirmed that deliveries happened to over 120 retailers in the first two months. The President added that the company is excited to build on the success to meet consumer demand, who are looking for higher-dose sodas.
Mark Murray, President, and CEO of Jones Soda Company said that the robust Mary Jones launch proved the strategic correct of foraying into the cannabis industry. Murray added that this helps diversify portfolio, leverage brand equity and moveoving into a profitable high-growth category for driving the future. The CEO also said that the new higher-potency 100 mg product is aimed at mature cannabis consumers. As per Murray, the new partnerships and ambitious product roadmap will enable the company to expand in other states driving growth in 2023 and further.
Key Quote
“The launch of Mary Jones 10mg bottles was one of the most successful brand launches we’ve seen at KSS, with deliveries to more than 120 retailers in the first 60 days,” said Brooks Jorgensen, President at Kiva Sales & Service. “We’re excited to build on this success with the upcoming launch of Mary Jones 100mg cans, which will meet the demand from consumers looking for higher-dose sodas that taste great.”
Technical Data
JSDA stock is trading above the 20-Day and 50-Day Moving averages of $0.30 and $0.31 respectively. However, the stock is trading below the 200-Day moving average of $0.39.
