The two big events that could’ve shaped the direction of New Age Beverages Corp. (NASDAQ:NBEV) in the near term are now fading in the rearview mirror. The market didn’t have a problem with last Thursday’s presentation at the 4th Annual B. Riley FBR Consumer Media Conference, sending the shares 5% higher for the day. Unfortunately for those long the stock, a nearly 30% slide through the four subsequent trading days suggests that the unveiling of its new product line at a big industry trade show didn’t go so well.
The four-day North American Convenience Store expo closed on Wednesday, and as promised, New Age Beverages did unveil its new line of ready-to-drink teas, shots, and sparkling water infused with cannabidiol (CBD), a cannabis component. The stock’s sharp downturn over the past week isn’t pretty, but it doesn’t mean that the volatile investment failed. New Age Beverages is already a winner in