Stryve Foods, Inc. (SNAX) is one of the leading company engaged in the manufacturing and commercialization of healthy snacks. The food products of the company have a lower carbohydrate content and more protein content. One of the widely utilized products of the company is all-natural air-dried meat which is made up of Beef and condiments. The products of the company are gluten and preservative-free. That’s why they are some of the healthiest snacks available today.
The price of SNAX stock during the regular trading session of December 21, 2021, was $4.30 with an incline of 4.37%.
Events and Happenings
On December 21, 2021, SNAX and 7-Eleven reported a main distributive partnership, in which 7-Eleven will bring three of SNAX’ most popular tastes Vacadillos carne seca of air-dried meat for the first time to almost 8,000 stores of 7-Eleven. It is a sale record for the product. 7-Eleven is one of the global convenience retailers with more than 77,000 stores internationally.
On December 16, 2021, SNAX reported new collaborations with Costco and Walmart for an important 2022 expansion program of the company’s local supply footprint and product penetration.
Key Financials
On November 15, 2021, SNAX reported the outcomes for the third quarter ended September 30, 2021. Some of the highlights are as follows
Net Loss
Net loss per basic and diluted share for the third quarter of 2021 was $8.7 million or $0.47 per share as compared to $4.4 million or $0.54 per share for the same period of 2020. An increase of $4.3 million was observed in net loss over the year.
Total Current Assets
Total current assets for the company were $26 million for the third quarter of 2021.
The company also announced its participation in the following investor conferences 12th Virtual Annual Craig-Hallum Alpha Select Conference on November 16, Virtual Jefferies Virtual West Coast Consumer Conference on November 17, 13th Annual SOUTHWEST IDEAS Conference on November 18, Stephens Annual Investment Conference on December 3, and 10th Virtual Annual Roth Deer Valley Event on December 9-10, 2021.
On October 11, 2021, SNAX reported that it made additions of approximately 4,000 new convenience stores and retail places during the last quarter.
Conclusion
The specific Distribution agreement of SNAX with 7-Eleven is the probable cause of the soaring stock price of the company as suggested by the analysts. The company is on verge of getting more potential investors in its framework and it will benefactor the company in the longer run.
