Kona Gold Beverage, Inc. (OTCQB: KGKG) operates as a holding company focused on better-for-you and CBD-based beverages. Shares of the beverage company are skyrocketing 124% through early trading on Monday, March 7, 2022. Over the past thirty days, Kona Gold has seen average daily volume of around 8.86 million shares. However, volume of 83.88 million shares or dollar volume of around $629,100, has already exchanged hands through early trading.
Shares of Kona Gold are surging after the company announced that its Ooh La Lemin Lemonades will be sold in Walmart (NYSE: WMT) stores across select states beginning in June 2022. Kona Gold says they will announce which states its beverage will initially be available in the coming weeks. The company says its 16 oz lemonades will be available in four flavors.
The distribution agreement with Walmart is a huge step for Kona Gold, as the company focuses on expanding its brand portfolio across the United States. The Ooh La Lemin Lemonades are currently available across numerous other popular convenience chains, such as Wawa, Piggly Wiggly, Plaid Pantry, Coborn’s, Hyvee and more.
In conjunction with the Walmart news, Kona Gold management says they have meet or exceeded its monthly revenue projections for January and February of 2022. Management says they will share specific revenue figures in the coming days. However, the company has set 2022 revenue guidance between $8 million and $10 million.
“I am very excited to be announcing to our shareholders that our Ooh La Lemin Lemonades will be available in Walmart stores around the country starting in June,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “This is a huge step for Kona Gold Beverage and a testament to how hard our team has been working in building our brands. Our Ooh La Lemin Lemonades will be available at Walmart locations where we currently have full state distribution and states where we are bringing on new distribution partners for this roll out.”
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