SponsorsOne Inc (OTCMKTS:SPONF) Stock Sees Selling Pressure After The Recent Jump

SponsorsOne Inc (OTCMKTS:SPONF) stock continues to trend lower on Tuesday and extending its weekly loss to over 10%. The stock has done exceptionally well this year with a jump of over 68% since the beginning of the year.

Market Action

On Tuesday, SPONF closed lower by 1.75% to $0.0168. More than 3.95 million shares have exchanged hands, well above its average volume of 10.76 million shares. The stock opened at $0.0170 and moved in a range of $0.0150 – 0.0174.

SponsorsOne Secures Distributors in Illinois to Supply the US Midwest

Here are the highlights:

SponsorsOne announced that Doc Wylder’s will be distributed in the Midwest by Loius Glunz Beer, Koerner Distributor, and G&M Distributors all located in Illinois.

Over the last 126 years, Louis Glunz Beer, Inc. has adapted to the many changes in the industry from Prohibition, The Great Depression to the current day surge in Micro and Specialty beers and use of technology in our everyday lives. Adapting to these many changes in the community, market and industry is what sets us apart from the other distributors in the area. The Company is dedicated to quality service and to educating its customers and the public about beer tastes and trends.

Key Quote:

Myles Bartholomew, CEO of SponsorsOne, said: “We continue to build our national distribution channel for our Ready to Drink products and Premium Spirits, ensuring we can service both local and national retailers across the US. We continue to see demand for natural ingredients with sophisticated flavors in this high growth RTD market, and Doc Wylder’s is centered directly in this market.”