Penny Stocks To Buy Or Sell: New Age Beverages (NBEV)

A Penny Stock With Disappointing Results
After the legalization of medical marijuana, it was only natural that derived products like CBD infused beverages were going to be the next big thing and New Age Beverages seemed like a good prospect in that regard. The company had inked big-ticket deals for its CBD infused beverages.NBEV had also gone on to sign major distribution deals. It goes without saying that such developments stoked a lot of optimism. But ultimately the company failed as demonstrated in its Q2 2019 financial results. The stock fell by as much as 5% after the quarterly results were announced.

That resulted in another instance where New Age Beverages missed analysts’ EPS estimates by a significant margin. Moreover, the company had earlier stated that the much-publicized Morinda deal was going to take its revenues to $320 million and earnings after EBITDA to $15 million.
Clearly, the hype from the deal has proved to be nothing more than that; hype. Right now investors might also feel that the company vastly overstated their capabilities. The question now is will NBEV stock continue its slide or can it recover before the end of the year?
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