Fresh Vine Wine Shares Drop 13% After 52-Week High Wednesday

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by Chris Wack

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Shares of Fresh Wines Inc. dropped 13% to $6.10 after the company said it was in partnership with CRAVE American Kitchen & Sushi Bar for all 12 CRAVE locations located in Minnesota, Iowa, North and South Dakota.

Shares of Fresh Wines ended Wednesday’s session up 20%, hitting their 52-week high of $9.75 and Tuesday’s low of $4.28.

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Cascade Hospitality owns and operates 12 Crave American Kitchen and Sushi Bar restaurant locations nationwide.

Fresh Wines Wines said its wines are meant to be paired with the American eclectic menu offered by CRAVE.

FreshVine Wines said it expects the launch of two additional new distribution partners in the first half of 2022, adding to the brand’s existing and latest partnerships with e-commerce, restaurant chains and grocery companies.

The company made its initial public offering of 2.2 million shares in December. The IPO priced each share at $10.

Write to Chris Wack at [email protected]

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