BranchOut Food Surges 83% as It Expands Relationship With 'Nation's Largest Retailer'

By Josh Beckerman

BranchOut Food shares surged 83% to $2.52 as it expanded its relationship with "the nation's largest retailer," renewing a contract for two dried fruit products and entering a new contract for two dried vegetable items.

Volume was more than 1.68 million shares, compared with a 65-day average of 10,476. BranchOut's June initial public offering priced at $6 a share.

The company's press release didn't name the retailer, but last June it reported a contract with Walmart for dried fruit products.

BranchOut said the new agreement is valued at an estimated $7.6 million annually. The company said in January that fourth-quarter gross revenue was about $1.6 million.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

02-12-24 1410ET