What Is Going on With NewAge (NBEV) Stock Today?


  • NewAge (NBEV) stock is recovering from a bankruptcy filing.
  • The company attributes its bankruptcy in part to an internal probe.
  • Volatility has followed NBEV stock since the company’s Chapter 11 filing.
Image of a white illy branded coffee cup with light roast coffee beans inside of it. representing NBEV stock, a high-risk stocks

Source: monticello / Shutterstock.com

NewAge (NASDAQ:NBEV) stock is rising higher on Friday as it bounces back from a dip caused by its recent bankruptcy filing.

The bankruptcy filing from NewAge has it seeking Chapter 11 protection while it handles the matter. That includes plans for the company to sell itself during the process. NewAge says this is the best situation to retain value for shareholders.

Following the initial filing, NewAge followed up with additional comments about the bankruptcy. Apparently, it filed for bankruptcy partially due to the cost of an investigation into the company.

This investigation sought to determine if NewAge had violated the Foreign Corrupt Practices Act, a U.S. law that forbids citizens and entities in the country to bribe foreign government officials for their business interests.

NBEV Stock Volatility Continues

NBEV stock has been incredibly volatile following its bankruptcy filing. The initial announcement on Tuesday saw shares rocket higher. However, the stock started to fall in the following days to below pre-bankruptcy filing prices.

Now, we’re seeing heavy trading of NBEV stock start to lift prices again. This has some 85 million shares on the move so far today. For the record, the company’s daily average trading volume is about 7 million shares.

NBEV stock is up about 40% as of Friday morning.

There’s more stock market news traders will want to know about below!

InvestorPlace is home to all of the hottest stock news for Friday! That includes what has shares of Broadcom (NASDAQ:AVGO), Tesla (NASDAQ:TSLA) and Hollysys Automation (NASDAQ:HOLI) stock in the news today. You can get up to speed on these matters at the following links!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (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.

Article printed from InvestorPlace Media, https://investorplace.com/2022/09/what-is-going-on-with-newage-nbev-stock-today-sept-2/.

©2024 InvestorPlace Media, LLC