NuZee, Inc. (NASDAQ: NUZE) is engaged as a co-packing company focused on the single serve coffee market. The company works with both small coffee roasters and large brands to develop single-serve and private label coffee products. Shares of the coffee co-packing company saw shares skyrocket 167% during trading on Thursday, November 11, 2021. Over the past three months, NuZee has seen average daily volume of 63,400 shares. However, volume of 108.84 million shares or dollar volume of $575.76 million, exchanged hands during Thursday’s trading session.
Shares of NuZee shot up after the company announced its partner, Cuvee Coffee, a nationally-recognized specialty coffee roaster has entered into an agreement to expand its new single serve coffee filter bag product into over 3,000 Walmart, Inc. (NYSE: WMT) stores. The expansion was effective November 8, 2021 and represents a big opportunity for both Cuvee Coffee and Nuzee.
Cuvee Coffee’s single serve filter bag product is manufactured by Nuzee, Inc., and thus is an important development for the public company. Each coffee filter bag contains 14.2 grams of Cuvee’s Solo Blend, a freshly-ground, medium house roast coffee blend. Much as one would do with a tea bag, consumers can conveniently brew their coffee with hot water in as little as 4-6 minutes. The nitro-sealed filter bags help ensure the coffee remains fresh.
“NuZee is thrilled to see our partner roasters, Cuvée Coffee, expand their customer reach with the single serve filter bags at select Walmart locations nationwide,” said Travis Gorney, Chief Innovation Officer at NuZee. “This partnership is offering a new way for coffee-lovers to easily access this high quality and convenient format, that is ideal for those on the go to enjoy life’s adventures.”
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