New Age dead cat bounce?

(24/7 MARKET NEWS) – NewAge Inc (NASDAQ: NBEV) is making a second powerful move higher in three days, but it could be a dead cat cover bounce. It’s trading higher in this morning’s premarket at $0.252, up $0.043 (+20.82%), on over 10 million shares.

This morning’s move follows Friday’s attempted breakout, when it ran to 33 cents, before retreating to the 20-cent level.

NewAge announced, two weeks ago, that it received an additional delinquency notice from the Nasdaq Stock Market, notifying NewAge that it’s not in compliance with Nasdaq Listing Rule 5250(c)(1), due to the Company’s failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.

It’s still near the lower end of its 52-week range of $0.196 to $1.80.

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