NuZee Inc. (NASDAQ:NUZE) Stock Rockets 163% On Hefty Volume
NuZee Inc. (NASDAQ:NUZE) was up 163%, with the single-serve coffee formats co-packing, the stock increased 270% intraday trading.
Market Stats
On Thursday, NUZE stock soared by 165% at $5.29 with more than 109.64 million shares, compared to its average volume of 56K shares. The stock has moved within a range of $1.95 – 7.60 after opening the trade at $2.01.
Major News
The rally results from investors reacting to the expansion of specialty coffee roaster Cuvee Coffee to more than 3,000 Walmart stores countrywide. Additionally, from November 8, 2021, customers can buy Cuvee Coffee single-serve filer bags that are produced in partnership with NuZee.
Cuvée, a coffee company known for its innovation and foresight, created these compact and enhanced filter bags usable on the move without needing brewing equipment. Each serving filter bag contains 14.2 grams of freshly ground Cuvée’s Solo medium roast house mix. You can brew the coffee with hot water for about 4-6 minutes or cold water for 12-24 hours, similar to a teabag. For maximum freshness, the filter bag is nitro-sealed. NuZee Chief Innovation Officer said the filter bags show the importance of quality and convenience to the company at Cuvee. So in the coming days, NUZE is worth watching.
Key Quote
“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. 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.”
Traders Corner
NUZE stock is trading above the 20-Day and 50-Day Moving averages of $2.36 and $2.29 respectively. Moreover, the stock is trading above the 200-Day moving average of $3.57. The stock is down 174% in the past month.
