Kona Gold Beverage Inc (OTCMKTS:KGKG) Stock Soars After Partners with Strategy & Execution Inc

If you are interested in the beverage sector then it could be a good time to start tracking the Kona Gold Beverage Inc (OTCMKTS:KGKG) stock. It had been in considerable focus on Tuesday and had ended up with gains of as much as 38% as a consequence.

Trading Data      

On Tuesday, KGKG stock soared 37.70% to $0.0042 with more than 27.80 million shares, compared to a volume of 8.17 million shares. The stock moved within a range of $0.0030 – 0.0048 after opening trade at $0.0030.

Kona Gold Beverage, Inc Partners with Strategy & Execution Inc to Accelerate Beverage Growth in 2023

The holding company, which is involved in the development of wellness and functional beverages, was in the news yesterday after it announced yesterday that it had gone into an agreement with Strategy & Execution Inc. The company went into that agreement with the purpose of growing its beverage portfolio over the course of the coming three years and more. Strategy & Execution is going to work on the strategy, distribution, sales, and execution strategies of Kona Gold in the United States market.

During the entire process, representatives from Strategy & Execution are going to work with the marketing team at Kona Gold and then provide recommendations. Additionally, it would provide inputs with regard to the annual planning process.

Kona Gold also noted that the relationship with Strategy & Execution would help it in boosting its marketing efforts in some of the key markets. Following the announcement, the Kona Gold stock rallied strongly and it remains to be seen if it can add to its gains today.

Key Quote

“I’m excited to share with our stockholders the recent partnership with Strategy & Execution,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “SEI works with some of the biggest emerging brands where they have taken those brands from having no distribution partners across the United States to having 100% U.S. distribution coverage in a short time.  SEI’s current team of 12 will become an extension of the Kona Gold Beverage’s team.  Together, they will accelerate market growth by utilizing their current partner network that includes distributors and retail chains around the country.”

Technical Data

KGKG stock is trading below the 20-Day and 50-Day Moving averages of $0.0039 and $0.0050 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0077.