American Rebel (NASDAQ: AREB) stock soared during intraday trading Friday after the company inked a distribution agreement with Dichello Distributors.
American Rebel has secured a distribution agreement with Dichello Distributors to introduce its flagship American Rebel Beer to the Connecticut market. This collaboration aims to capitalize on Dichello’s extensive distribution network and deep-rooted presence in the state to promote American Rebel’s Light Lager to local consumers.
The development comes after the company known for its diverse product lines including safes, personal security items, and apparel ventured into the beverage sector with the introduction of American Rebel Beer.
Dichello Distributors, established in the 1930s and currently led by Gloria Hall and her son John Hall, boasts a rich history in beverage distribution across Connecticut. The family-run enterprise has been instrumental in distributing Anheuser Busch brands throughout the region, making them a formidable partner for American Rebel’s expansion efforts.
Andy Ross, CEO of American Rebel, expressed confidence in the partnership, saying,
“John Hall and Dichello Distributors are the perfect fit for American Rebel Light Lager. John understands American Rebel’s target market and potential and we’re going to hit the ground running in Connecticut – the Constitution State. And to top it all off, John is an NHRA Pro-Stock Motorcycle Racer.”
In addition, American Rebel announced its financial results for the 2024 first fiscal quarter. The company reported revenues of approximately $4 million.
American Rebel (NASDAQ: AREB) Stock Price Action
On Friday, AREB stock surged 152.49%, closing at $0.76, marking a 138.24% increase for the week. The trading volume was 371,719,200 shares, significantly higher than the average daily volume of 6.16 million.
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