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Sunday, July 3, 2022

Reed’s Inc (REED) stock soared in the after-market. Here’s why

Reed’s Inc (REED) remained bullish during the last trading session as well as during the after-hours. REED stock was trading at $0.2726 before the closing of the last trading session. The stock gained 1.23% from the previously traded session. Moreover, during the last check, REED stock remained bullish and gained 16.21% to $0.3168 in the after-market. The firm declared the closing of a $5.4 million private placement. REED also declared the date to release the results for their earnings. The firm filed form 3 with the SEC on 23 March 2022.

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Reed’s, Inc. takes part in the arrangement of carbonated and non-carbonated refreshments. The organization’s brands incorporate Reed’s Craft Ginger Beer and Reed’s Real Ginger Ale, and Virgil’s Handcrafted soda. Currently, the firm has a market cap of $25.55 million and has its headquarters in Norwalk, Connecticut, USA.


On 14 March 2022, REED declared the end of its recently reported private placement of 18.5 million units of normal stock and warrants to buy up to a total of 9.2 million units of normal stock. The total return for this placement was $5.4 million. Officials and overseers of the organization bought around $1.1 million of the securities. The price per unit of normal stock and the related warrant was $0.28 for the shareholders and $0.3502 for the officials and overseers of the firm consistent with the guidelines of the Nasdaq Stock Market. The exercisable period for the warrants was five years. REED means to involve the net returns from the contribution for working capital and general corporate purposes.

One more variable to the bullish pattern of stock could be the general vertical move in the financial exchange with Nasdaq Composite Index and Dow Jones Industrial Average.

REED Financials

REED published the initial unverified results for Q4 and the fiscal year 2021. The highlights of the results are

  • The total sales in Q4 of FY21 are expected to be $12.7 million while total sales in FY2021 are expected to be $49.6 million.
  • Moreover, the firm anticipated the total profit in Q4 of FY2021 to be $3.5 million and the total profit in FY2021 to be $13.6 million.

REED will declare the results for Q4 and the fiscal year 2021 on 31 March 2022.

FY2022 Stance

REED anticipates the total revenue in FY2022 to be in the range of $59-$62 million. Also, the firm anticipates the gross margin to be 30% in FY2022.

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