MusclePharm Corporation (OTCMKTS:MSLP) Stock Rallies After Partnership with Costco

MusclePharm Corporation (OTCMKTS:MSLP) was up 10% after announcing the signing of a partnership deal with Costco US to distribute its energy beverage line, MP Combat Energy.

Market Stats

On Thursday, MSLP stock surged 9.43% to $0.4050 with more than 20K shares, compared to its average volume of 15.50K shares. The stock moved within a range of $0.3310 – 0.4050 after opening trading at $0.3505.

MusclePharm Announces Partnership with Costco for MP Energy Drink in Southern California and Hawaii Regions

This summer, the collaboration will kick off at Costco shops throughout Southern California and Hawaii, with MusclePharm planning a full launch in 2023. customers can purchase MP Combat Energy in a 24-pack that includes three flavors of Grapefruit Lime, Black Cherry, and Green Apple.

CEO and Chairman of MusclePharm Board Ryan Drexler stated that the partnership would be the first for their energy beverage line with a leading wholesaler in the US, and it is a result of the excellent work of the MP beverage team to extend MP Combat Energy distribution. The company’s protein powder solutions have sold well at Costco, and they anticipate a similar reaction with the energy beverages. Recently the company established a nationwide relationship with a top food and drinks broker, which the company believes will help expedite the expansion and acceptance of the sports drink line. So in the coming weeks, investors should watch MSLP.

Key Quote

Mr. Ryan Drexler, the Chairman of the Board and Chief Executive Officer of MusclePharm, stated, “This will be MusclePharm’s first partnership for our energy drink line with a food wholesaler in the United States and is a result of our incredible MP beverage team working tirelessly to expand distribution of MP Combat Energy. Our protein powder products have had great success selling to Costco customers and we expect a similar response to our energy drinks. We recently announced a national partnership with a leading food and beverage broker that we believe will be a huge catalyst for accelerated growth and adoption of our energy drink line within additional grocery and convenience outlets across the United States.”

Traders Corner

MSLP stock is trading above the 20-Day and 50-Day Moving averages of $0.39 and $0.40 respectively. The stock is trading in neutral zone with the RSI at 50.