The stock skyrocketed more than 38% to close at $6.63.
The wellness-focused beverage company acquired the Bob Marley-based brand in 2017, which includes Marley Mate, a caffeinated yerba tea, and Marley Cold Brew. In 2018, demand for Marley products increased by 70%.
The drinks will be available at Walmart beginning in April. Marley Mate comes in three flavors: Be Jammin' Berry, Ya Mon Mint and Jamaican Me Mango.
"This is such a great accomplishment for New Age,” Vice President of Key Accounts Craig Thibodeau said. “This is just the first initiative that we expect to do with [Walmart] on the Marley brand and other New Age products on which we are in active discussions.”
The Denver, Colorado-based company is also planning to launch a cannabidiol infused version of its Marley Mellow Mood teas late this year.
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