Splash Beverage (NYSEAMERICAN:SBEV) stock is shooting higher on Tuesday thanks to a deal that brings its TapouT drinks to Walmart (NYSE:WMT) stores.
The deal has Splash Beverage’s TapouT performance drinks coming to 47 Walmart locations in Florida. The company highlights that this expansion is major as it opens the way to selling the drinks in more stores in the state.
Splash Beverage getting its drinks in Florida Walmart locations is a big deal for the company. Florida has the second most Walmart locations by state with a total of 341 stores.
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Robert Nistico, chairman and CEO of Splash Beverage, said the following about the deal.
“We are thrilled with this Walmart authorization, and this is a wonderful way to start 2022. Walmart is extremely selective in the brands they choose to offer their shoppers and selecting TapouT is great validation that TapouT can compete at the highest level with the biggest global brands.”
News of TapouT making its way to Walmart stores in Florida is bringing heavy trading SBEV stock today. As of this writing, more than 56 million shares of the company’s stock have changed hands. That’s a massive jump over its daily average trading volume of about 179,000 shares.
SBEV stock is up 54% as of Tuesday morning.
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