7 C
New York
Wednesday, March 22, 2023

Reed’s Inc. (REED) Stock Exhibits Minor Volatility Ahead of Upcoming Wizard Run Events

Reed’s Inc. (REED) stock prices were down by 4.17% as of the market close on October 1st, 2021. This brought the price per share down to USD$0.58 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 6.09%, bringing it up to USD$0.61.

REED Stock Sponsors Wizard Run

September 28th, 2021 saw REED stock announce its sponsorship of The Wizard Run. The series of 1M, 5K, and virtual runs/walks will provide entrants with a riveting augmented virtual reality experience. The first run/walk will commence on October 2nd, 2021 in Joplin, Missouri. A secondary event will follow up on October 23rd, 2021 in Springfield, Missouri. Flying Cauldron products are available on Amazon or directly on their website.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


Net Sales Breakdown

The second quarter of fiscal 2021 saw REED stock report net sales in the amount of USD$11.3 million. This is a 4% increase from the USD$10.9 million reported in the prior-year quarter. Core brand gross sales were up by 2% as compared to the prior year quarter. This improvement was largely driven by a 9% volume growth as Reed’s brand was up by 5%, while Virgil’s brand was up by 13%. The company executed its shift to lower priced, higher margin products, resulting in a 6% decline in average core brand pricing. This resulted in a partial offsetting of the company’s volume gains.

REED Stock’s Gross Margin Report

Gross profit for the second quarter of fiscal 2021 came out to USD$3.3 million, representing a 9% increase over the numbers from the prior year quarter. REED stock attributed the year and year increase to a decrease in discounts as a percentage of sales. Further consolidating the yearly increase was an 8% reduction in cost of goods sold per case, which came out to USD$11.27. Gross margin was up by roughly 150 basis points, coming in at 29% as compared to the 28% reported in Q2 2020.

Solid Liquidity Position

REED stock reported a solid liquidity position as of the end of the second quarter of fiscal 2021. The company reported cash in the amount of USD$0.7 million as of June 30th 2021. This liquidity position was further consolidated by the availability of USD$4.3 million under its revolving line of credit.

Future Outlook for REED Stock

The company reported a promising quarter, as evidenced by the strength of its financial reports for Q2 2021. REED stock is poised to capitalize on the opportunities afforded by the momentum it has generated over the first half of 2021. Current and potential investors are confident that management will be able to effectively leverage the resources at its disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.

Latest news

Related news


Please enter your comment!
Please enter your name here