Kona Gold Beverage Inc (OTCMKTS:KGKG) Stock Gains Momentum: Here is Why

The beverage industry has comes into focus among investors in a big way in recent times and if you are looking into such stocks then you may consider taking a look at Kona Gold Beverage Inc (OTCMKTS:KGKG). The holding company was in focus among investors following a key development and ended up with gains of 4% for the day.

Trading Data

On Monday, KGKG stock moved up 4.35% to $0.0048 with more than 28.95 million shares, compared to its average volume of 7.77 million shares. The stock moved within a range of $0.0045 – 0.0055 after opening trade at $0.0045.

Kona Gold Beverage, Inc Rolls Out Ooh La Lemin Lemonades in over 250 Walmart stores across 12 States

The company, which is involved in the manufacturing of healthier beverages, announced on Monday that its Ooh La La Lemonades had been rolled out in as many as 250 Walmart Supercenters spread across a total of 12 states in the United States. It was a significant new launch and it was perhaps no surprise that it led to considerable excitement among investors.

The roll out process has kicked off already and over the course of the month of November, the product is going to be distributed by the distribution centers that are owned by Kona Gold. It should also be noted that the product is also going to get designated spaces at the Walmart Supercenters and that is another factor that investors ought to keep in mind. It remains to be seen if the Kona Gold stock can continue to add to is gains this week.

Key Quote

“I’m excited to share with our stockholders that our popular Ooh La Lemin Lemonades are now rolling out to Walmart Supercenters around the country, stated Robert Clark, CEO of Kona Gold Beverage, Inc. “Our team has been laying the distribution groundwork in order to launch in more states than we originally planned for. I’m excited that we will be able to service customers in more states now with our market presence growing on a monthly basis.”

Technical Data

KGKG stock is trading below the 20-Day and 50-Day Moving averages of $0.0050 and $0.0056 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0078.