Kona Gold Beverages Inc. (OTC:KGKG) Stock Rallies 11%: Here is Why

The beverage industry remains one of the more interesting spaces for investors due to the significant growth in the past decade or so, and one of the companies in the sector that could be worth tracking at this point is Kona Gold Beverages Inc. (OTC:KGKG). The company is a specialist in innovative product development in the healthy and functional beverage niches.

On April 25, Kona Gold Beverages came into the news cycle after it announced that its board of directors and the majority shareholders had both approved a change of name for the company. It was revealed that the process had already commenced with regards to changing the name of the company to NuVibe Inc. and procuring the new ticker symbol VIBE. The decision by the company to go for a rebrand was to reflect the strategic evolution into a holding company with diversified interests. As a consequence, it would be possible for Kona Gold Beverages to create the foundations for considerable growth and eventual success across a range of sectors.

In the news release, it was also noted that the change also signified a major new milestone for the company as it worked on evolving its identity and creating a gap with its previous associations. It was also announced that Kona Gold Beverages would start work on the official process with the FINRA (Financial Industry Regulatory Authority) in order to get its new ticker symbol VIBE. However, that was not all. It was also announced that the company had retained the services of legal counsel, who would be responsible for helping the company with the name change and ticker symbol change. The current subsidiary of the company would continue to operate in the same way and carry on with their existing names so that the established identities remain intact.


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