Benzinga | Jul 14, 2020 11:27AM EDT

Why Reed's Stock Is Trading Higher Today

Reed's (NASDAQ:REED) shares are trading higher on Tuesday after the company announced the launch of Flying Cauldron on Amazon.

Reed's sells the Virgil brand which is independent, an all-natural craft soda brand. The company's portfolio has sold in over 20,000 retail doors across the natural, specialty, grocery, drug, club and mass channels nationwide.

The company hand brews its products using fresh organic ginger combined with natural spices and fruit juices. The Ginger Beers come in three levels of increasing ginger intensity that deliver a delicious and powerful ginger bite and burn that can only come from fresh ginger root.

Reed's shares were trading up 22.70% at $1.04 at the time of publication on Tuesday. The stock has a 52-week high of $3.65 and a 52-week low of 36 cents.