The Alkaline Water Company Inc. (NASDAQ:WTER) Gains After The News: What Next?
The Alkaline Water Company Inc. (NASDAQ:WTER) is up 11.5% in a month. Yesterday, the company announced a distribution deal with Premier Distribution Services. According to the deal, Premium Distribution Services will supply Alkaline88 water to more than 800 sports nutritional stores, gyms, smoothie bars, and personal training studios.
In addition, the whole Alkaline88 bottled water line will be available at PDS. CEO Ricky Wright said that this is a massive opportunity for the company to partner with PDS to carry the entire line of Alkaline88 bottled water nationwide. In addition, he said that the agreement would help the company launch and drive the pilot for the new aluminum, 2-liter, and flavor-infused products.
Recently the company reported record results for the fiscal year ended March 31, 2021, in which revenue was up 20% YoY to $46 million. In addition, Wright said that the company had a record fiscal 2021 continuing its streak of never having a flat or a don year. So in the coming months, WTER is a stock to watch.
Market Reaction:
On Tuesday, WTER stock jumped 3.77% at $1.65 with more than 2.90 million shares, compared to its average volume of 1.52 million shares. The stock has moved within a range of $1.5500 – 1.6800 after opening the trade at $1.62. Over the past 52-week, the stock has been trading within a range of $0.9300 – 2.4300.
