If you are currently looking into stocks which have managed to record handsome gains over the course of the past week then it might be time to take a closer look at the Alkaline Water Company Inc (NASDAQ:WTER) stock.
The stock has been in the middle of a sustained surge over the past week and has managed to deliver gains of as much as 15%. Alkaline Water, which is the biggest alkaline water firm in the United States, announced yesterday that Associated Wholesale Grocers is going to add its highly popular 1 Gallon and bulk 3 Liter bottles to its five warehouses.
It is a significant development for Alkaline Water Company since Associated Wholesale Grocers is the biggest food wholesaler which caters to the supermarkets in the United States which are independently owned.
To put it into context, Associated Wholesale Grocers currently provides its services to as many as 1100 companies spread across 3000 locations in as many as 28 states in the United States. Hence, it goes without saying that it is a major deal for the Alkaline Water Company. It is going to be interesting to see if the latest announcement prompts more investors to flock to the Alkaline Water Company stock today.
Market Reaction:
On Thursday, WTER stock gained 1.70% at $1.79 with more than 2.23 million shares, compared to its average volume of 1.62 million shares. The stock had moved within a range of $1.7000 – 1.8000 after opening the trade at $1.76. Over the past 52-week, the stock has been trading within a range of $0.9300 – 2.3000.
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