LQR House (NASDAQ:LQR) stock is rising higher on Monday as investors in the liquor marketing company celebrate its first shipment to Costco (NASDAQ:COST).
This first shipment comes from Von Payne Whiskey and includes a collection of Costco stores located across Southern California. Investors are celebrating this win, as it brings one of the company’s customers to one of the largest U.S. retailers.
Sean Dollinger, founder of LQR House, said the following about today’s news:
“What an accomplishment for a brand like Von Payne. Getting to see the whiskey on Costco’s shelves is a true testament to how LQR House’s marketing has been so successful for Von Payne. Our team identified this product as a gem early on and has been working alongside the company for years to get to this point.”
How This Affects LQR Stock
News of the shipment to Costco has shined a light on LQR stock on Monday. As a result, the company’s shares are seeing heavy trading. That has more than 119 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is about 3.6 million shares.
LQR stock is up 7.4% as of Monday morning but is down 95.2% since the start of the year.
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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.
