SponsorsOne Inc (OTC: SPONF) closed out the day at $0.0072, up 64.32 percent. It has been trading in a day range of $0.0044 to $0.0110. With average trading volume for the month exceeding 30.39M shares, SPONF shares plunged more than -36.28% last month. Looking at the year-to-date performance of SPONF, the stock gained over 925.57% while averaging 22.11M shares and reaching a high value of $0.0160 with a market capitalization of $56.55M.
Getting to know the company and its recent developments:
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Providing data-driven marketing campaigns that connect brands with their customers, SponsorOne focuses on the creation and management of exclusive social influencer communities with high engagement rates and within the social arena.
- The company offers proprietary brands centered on the Alcohol, Functional Beverages, and Hemp Sectors via its proprietary platform.
- It combines digital marketing, wholesale and retail distribution, branding, operational and funding capital, and proprietary brands through its network of licensed distributors.
- This ability gives it a competitive first-mover advantage in rapidly pushing out its proprietary brands.
- The company this month announced that it has executed a warehousing and online retailing agreement with Speakeasy Co.
- That was for selling Premier Beverage Consortium’s product called Doc Wylder’s Lemonade with the company’s very first product offered through its DTC or Direct to Consumer marketing model.
- The company had previously announced that it would open a direct-to-consumer sales (DTC) channel this year.
- With the current agreement, the company envisions its entry into the $24 billion global DTC spirits market.
Factors that are driving the stock higher:
During Prohibition, U.S. liquor e-commerce was stifled for decades, and the pandemic lockdowns triggered a surge in demand almost overnight. Based on current estimates, the DTC Spirits market share in the US is approximately 5% in the $120 billion market, having grown to 20% by 2026. With high-quality products that can be bought online, SponsorOne is set to be at the forefront of this growth.