Splash Beverage Group Inc. (NYSE:SBEV) shares are trending on Friday.
Shares of the Florida-based company climbed 64.10% to $0.57 after the bell on Thursday.
The surge in the late trading session follows an intraday gain of 7.07% which closed the SBEV at $0.35, according to Benzinga Pro data.
Splash Beverage Group, which engages in the manufacturing, distribution, marketing, and sale of various beverages, experienced an exceptionally elevated trading session on Thursday. Volume reached 26.43 million shares, more than 6.12 times the stock’s average daily volume of 4.32 million shares.
Veterinary Push
The stock move came alongside a Thursday Securities and Exchange Commission filing that disclosed Splash expanded its exclusive global license for cannabinoid drug CannEpil with Australian clinical-stage biopharmaceutical company Argent BioPharma Limited to include veterinary applications.
The expansion positions CannEpil for veterinary applications in companion-animal oncology and chronic pain treatment.
According to the SEC filing, Splash will pay Argent a 10% royalty on veterinary net revenue and 15% on human applications.
Interim CEO Brady Cobb said, “Expanding our exclusive CannEpil license into veterinary medicine materially broadens the value of the platform and provides access to significant companion-animal oncology and pain-management markets.”
Splash is also finalizing a strategic joint venture with an established cannabinoid pharmaceutical company to lead CannEpil’s veterinary development program, with additional details expected in the near future.
Market Opportunity
According to Grand View Research, the global veterinary pain management market was valued at approximately $2.6 billion in 2024 and is expected to reach approximately $3.8 billion by 2030.
Trading Metrics, Technical Analysis
Splash Beverage Group has a market capitalization of $2.17 million, a 52-week high of $13.40 and a 52-week low of $0.25.
The Relative Strength Index (RSI) of SBEV stands at 35.74.
The stock has dropped 95.01% over the past 12 months.
Currently, SBEV is trading near the lower end of its 52-week price range.
The stock’s sharp decline and weak market position suggest that it remains under pressure, highlighting higher risk and the need for stronger signs of recovery before investor confidence returns.
Benzinga’s Edge Stock Rankings indicate SBEV stock has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Zakharchuk / Shutterstock
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