Jones Soda Co. (NASDAQ: JSDA) is soaring this morning on its announcement that Wal-Mart is now authorized to retail its products in the companyâs 3,800 domestic stores.Â What is interesting is that the shares are moving far more than the net addition, because the announcement says, âThe deal increases Jonesâ total retail outlet distribution by nearly 10%, and will make the product easily accessible to millions of new consumers.â
Jones has been given three shelf facings for a custom assorted 6-pack of Jones Pure Cane Soda, which includes two bottles each of some of Jonesâ most popular flavors â" Green Apple, Berry Lemonade and Cream Soda.Â A wal-Mart and Jones variety pack in other words.
Jones shares are up over 45% around the $1.00 mark today and we have already seen 2.3 million shares trade.Â The 52-week range is $0.40 to $1.42 and average daily volume is only about 500,000 shares.Â Keep in mind that at one time during the specialty beverage boom that Jones was a double digit stock that went above $10 in 2006â¦ Then it went to $20, and then above $30â¦
UPDATE 1:20 PM EST: Jones shares are now up 50% at $1.05 but the stock has traded as high as $1.25.Â We have seen 4.8 million shares, so we are closing in on a 10X volume day already.
JON C. OGG