Jones Soda Co. (OTCMKTS:JSDA) Stock Picks Up Momentum After The News
Jones Soda Co. (OTCMKTS:JSDA) is up 4% in a week after announcing the promotion of Eric Chastain as the president of its Jones Soda Beverage Division.
Market Stats
On Wednesday, JSDA stock fell 1.05% at $0.9350 with more than 46k shares, compared to its average volume of 84K shares. The stock has moved within a range of $0.8800 – 0.9448 after opening trading at $0.92.
Jones Soda COO Eric Chastain Named President of New Beverage Division
The new position was created as part of the company’s leadership expansion associated with the anticipated launch of the new marijuana-infused beverage and edibles business previously announced in June. Eric has been an executive team member since 2001 when he joined Jones Soda as VP operations and has been COO since 2014, where he managed daily operations, including quality assurance, supply chain, product development, regulatory compliance, and customer service.
In the new position, Eric will be in charge of driving growth for the company’s core beverage portfolio that includes supervision of functional areas, running operations, and implementing the three-year strategic plan adopted in 2020 for the craft soda business. Equally, he will assist Jones Cannabis Division in capitalizing on the company’s synergies and brand equity to create a strong presence in the edibles and beverage sector. So, investors should watch JSDA.
Key Quote
“Eric has been involved in every aspect of our craft soda business for 20 years, from the smallest operational detail to management of key house accounts and implementation of strategic growth initiatives,” said Mark Murray, president and CEO of Jones Soda. “With his long experience and deep knowledge of the brand, I am fully confident that our new Jones Soda Beverage Division will thrive under his leadership.”
Traders Corner
JSDA stock is trading below the 20-Day and 50-Day Moving averages of $0.96 and $0.96 respectively. However, the stock is trading above the 200-Day moving average of $0.76. The stock is down 15% in the past 3-month.