MusclePharm Corporation (OTCMKTS:MSLP) Stock Rockets 35% After Announcing National Partnership
MusclePharm Corporation (OTCMKTS:MSLP) soared 35% after announcing a partnership with Alliance Sales & Marketing to help expedite the growth of their energy drink operations.
Market Stats
On Tuesday, MSLP stock soared 35.76% to 0.4495 with more than 10k shares, compared to its average volume of 17K shares. The stock moved within a range of $0.3495 – 0.4495 after opening trading at $0.3495.
MusclePharm Announces National Partnership with Alliance Sales & Marketing for Energy Drink Business
The MusclePharm and FitMiss energy drink lines will be expanded into convenience and grocery stores across the US by leveraging Alliance’s twenty years of industry experience and partnerships. Alliance is a prominent national food and beverage distributor with a track record of expanding brands and improving sales for a few of the world’s best known packaged consumer goods and beverage firms.
CEO Ryan Drexler said they are delighted to work with a well-known firm such as Alliance to assist the company’s MP beverage group in expanding distribution and sales of the lines of energy drink, FitMiss Energy and MP Combat Energy, across the country. He added that Alliance is renowned for being one of the industry’s top marketing and sales brokers. They’ll use their deep, trusted connections with regional and national retailers to help expand and faster adopt the brands. So investors should watch MSLP.
Key Quote
Mr. Ryan Drexler, the Chairman of the Board and Chief Executive Officer of MusclePharm, stated, “We are excited to partner with an established company like Alliance to help our MP beverage team build out sales and distribution across the country of our energy drink lines, MP Combat Energy and FitMiss Energy. Alliance has a reputation as one of the best sales and marketing brokers in the business and will use their close, trusted relationships with both national and regional retailers to accelerate the growth and adoption of our brands. We believe our energy drink lines, now supported by an internal and external team of top industry veterans, has the potential to become a meaningful growth driver for our Company.”
Traders Corner
MSLP stock is trading below the 20-Day and 50-Day Moving averages of $0.41 and $0.41 respectively. Moreover, the stock is trading below the 100-Day moving average of $1.
