Why Is NuZee (NUZE) Stock On The Move Today?

  • NuZee (NUZE) stock is down after announcing a coffee partnership.
  • That’s despite shares rallying in early morning trading.
  • This also comes alongside heavy trading of the stock.
NUZE Stock - Why Is NuZee (NUZE) Stock On The Move Today?

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Nuzee (NASDAQ:NUZE) stock is on the move Thursday after the company announced a new partnership with Malu.

Malu is a single-serve coffee company, which makes it the perfect partner for the coffee co-packing company Nuzee. Today’s deal has Nuzee handling the creation of single-serve pour-over pouches using the Malu brand.

Malu is a coffee brand that was created during the height of the Covid-19 pandemic in 2020. The founder, Jingyi Ma, started it as a way to enjoy a premium cup of coffee without fancy equipment. The company’s product makes use of a pour-over process that originated in Japan.

Ma said the following about partnering with Nuzee:

“With our amazing partner NuZee, Malu brings the traditional pour-over quality and experience anywhere, without the need for any additional equipment. Coffee is more than a caffeine boost – it is the enjoyment of the daily ritual, complex flavors, and the moment of serenity.”

How NUZE Stock Is Reacting to the Deal

Investors initially pumped shares of NUZE stock higher today when the coffee deal was announced. However, that momentum hasn’t continued as the company’s shares are now down 5.8%.

That comes alongside heavy trading of the company’s stock. As of this writing, more than 656,000 shares of NUZE had traded hands. That’s well above its daily average trading volume of about 38,000 shares.

Investors looking for more of the latest stock market news are in the right place!

InvestorPlace is home to all of the hottest stock coverage for Thursday! Among that is what has stocks down today, as well as the latest on Olink (NASDAQ:OLK) and Ontrak (NASDAQ:OTRK). You can learn more at the links below!

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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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/01/why-is-nuzee-nuze-stock-on-the-move-today/.

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