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Zevia Pbc stock has reached a remarkable milestone, soaring to a 52-week high of $4.8, marking a significant turnaround from its previous performance. According to InvestingPro data, the stock has demonstrated exceptional momentum with a stunning 407% return over the past six months, while maintaining a relatively moderate beta of 0.66. This peak represents a substantial gain for the company, which has seen an impressive 177.98% increase over the past year. Investors have shown renewed confidence in Zevia's market position and growth prospects, propelling the stock to new heights and reflecting a strong recovery trajectory in its valuation. The company's strategic initiatives and positive market trends have contributed to this bullish momentum, making Zevia a notable performer in its sector. Based on InvestingPro's Fair Value analysis, the stock appears to be trading above its intrinsic value, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Zevia PBC has reported a wider projected Q4 EBITDA loss, which the company attributes to increased investments in its holiday marketing campaign. The company now expects fourth-quarter net sales to be approximately $39.5 million, within its prior forecast range of $38 million to $40 million. The anticipated adjusted EBITDA loss for the same period has been revised to between $3.9 million and $4.2 million, a significant increase from the previously projected loss of $1.8 million to $2.2 million. Looking further ahead, Zevia has provided guidance for the year 2024, with expected net sales of around $155 million, and an anticipated wider adjusted EBITDA loss estimated to be between $15.2 million and $15.5 million.
In addition to these recent developments, Zevia held its Q3 2024 earnings call, led by President and CEO Amy Taylor and CFO Girish Satya. The company provided forward-looking statements based on current expectations and beliefs about future events. The call highlighted both potential risks and beliefs concerning future events that could positively affect outcomes. The company did not disclose specific financial details during the call, but interested parties can find more information on Zevia's investor relations website.
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