Stryve Foods (NASDAQ:SNAX) stock is gaining on Thursday after announcing an expanded distribution deal that will bring its products to more stores.
Let’s sink our teeth into that news below!
- According to a recent press release, Stryve Foods products are set to appear at more Costco (NASDAQ:COST) and Walmart (NYSE:WMT) stores.
- That includes the company’s Stryve Biltong and Vacadillos being available at certain Costco stores.
- The company also notes that new beef jerky flavors will be stocked at Costco locations.
- That includes its warehouses in Arizona and business centers around the rest of the U.S.
- In the case of Walmart, the company is offering three new product SKUs at the company’s Supercenters.
- That has Stryve Foods increasing its total SKUs at Walmart stores from two to five.
- This includes Chili Lime and Habanero SKUs, as well as a Stryve Biltong multipack.
Joe Oblas, cofounder and CEO of Stryve Foods, said the following in the news release boosting SNAX stock today.
“The opportunity with Costco next year to participate in the MVM nationwide campaign confirms that Stryve’s products and strategy are on point with consumers and retailers alike. This promotion represents an enormous opportunity to drive trial for Stryve with a massive amount of target consumers in a condensed period of time.”
News of the increased distribution has SNAX stock experiencing heavy trading today. That has some 40 million shares changing hands as of this writing. This is a massive increase over its daily average trading volume of about 139,000 shares.
SNAX stock is up 9.5% as of Thursday afternoon.
There’s more stock market news to take a bite out of below!
InvestorPlace is serving up all the latest stock news for hungry investors. That includes what’s happening with shares of Plug Power (NASDAQ:PLUG), KE Holdings (NYSE:BEKE), and Uber (NYSE:UBER) today. You can find all of that info by checking out the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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