BranchOut Food Surges 83% as It Expands Relationship With 'Nation's Largest Retailer'
By Josh Beckerman
BranchOut Food shares surged 83% to $2.52 as it expanded its relationship with "the nation's largest retailer," renewing a contract for two dried fruit products and entering a new contract for two dried vegetable items.
Volume was more than 1.68 million shares, compared with a 65-day average of 10,476. BranchOut's June initial public offering priced at $6 a share.
The company's press release didn't name the retailer, but last June it reported a contract with Walmart for dried fruit products.
BranchOut said the new agreement is valued at an estimated $7.6 million annually. The company said in January that fourth-quarter gross revenue was about $1.6 million.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 12, 2024 14:10 ET (19:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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