Koios Beverage (CSE:KBEV) (OTC:KBEVF) is making quite a splash in the cannabis industry lately. Yesterday, the cannabis-infused beverage company announced the closing of a +1,000 store supply deal with Walmart (NYSE:WMT). At market close yesterday, KBEV stock was up +150%, and KBEVF saw percentage gains of over +160%.
Koios Beverage Strikes Deal with Walmart
Koios Beverage developed a nootropic formula that has been shown to enhance brain function including concentration, memory, and focus. Walmart just signed a purchase order of these beverages to 1,094 stores. The Koios Beverage line will be added to Walmart's new functional beverage set. The company will carry Koios's Peach Mango, Pear Guava, and Blood Orange.
“Working with the world’s largest retailer is an honor,” said Koios CEO Chris Miller. “Walmart has begun carving out significant shelf space in select locations to build the next generation of better-for-you brands, and we are truly excited to be one of them."
Securing a purchase order and building a healthy relationship with the retail giant is monumental for the Denver-based company. Koios Beverage drinks will be available in select stores and through Walmart's online portal on April 1st. The line of beverages is also sold in GNC stores across the US.
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Koios produces healthy, organic beverages and supplements. It wasn't until last year that the company began testing adding CBD to its products. CBD-infused drinks are a huge trend in the cannabis space currently, and many major beverage companies are working on their own forms of it.
If Koios can keep up a great relationship with Walmart, it could potentially sell its CBD-infused beverages to the major retailer. If that were to happen, it would be a monumental step for the cannabis industry.
Koios Stock Movement
According to Yahoo Finance, KBEV closed yesterday at $0.91 a share, up +$0.54 (+149.32%). On the OTC, KBEVF closed the market at $0.71 a share, up +$0.43 (+161.03%).
And what about today? The gains, unfortunately, are already slackening off. At the time of writing, KBEV is selling for $0.72, down -20.88%, while KBEVF is selling for $0.54, down -22.93%.
What do you think will happen to Koios stock next?
Featured Image: Pixabay
