Twisted Tea Stock Success: Boston Beer Co. Surges in 2020
Twisted Tea stock had a year to remember in 2020. However, will Boston Beer Company (NYSE: SAM) continue this trend into 2021? The famous beverage company made the most of a volatile market and its hard iced tea was a major contributor to its rise.
What is Twisted Tea Stock?
Most Americans have heard of, and possibly indulged in, Samuel Adams Boston Lager. In fact, it’s the flagship beverage of the Boston Beer Company.
And this is how shares of Boston Beer Company became referenced as Twisted Tea stock. This hard iced tea completely obliterates its competitors. Overall, Twisted Tea owns over 90% of the market share in the hard tea category. Its closest competition is Arnold Palmer Spiked, which is owned by MillerCoors (NYSE: TAP).
As a result of the spike in alcohol sales due to stay-at-home orders in 2020, Boston Beer Company stock has grown over 160%. This is largely due to Twisted Tea’s popularity and the growth of the company’s hard seltzer brand Truly.
Boston Beer Company Overview
Truly is its latest addition to hit the market. And it’s a major competitor to White Claw as one of the most popular hard seltzers available.
Almost every alcohol beverage company has released some form of hard seltzer to meet the public interest and demand. However, Truly and White Claw have become the premier hard seltzer products in America.
And this group of products makes Boston Beer Company one of the largest breweries in the United States. The so-called Twisted Tea stock is now one of the most expensive stocks listed on the market.
Twisted Tea Stock Price
Boston Beer Company stock began 2020 at $371.12 per share. Just a few days before the 2021 New Year, it’s been as high as $1,092.80.
And this surge occurred through one of the most volatile markets in history. It is largely due to the rapid demand for hard seltzer and hard tea. Moreover, this trend doesn’t seem to be going anywhere anytime soon.
Boston Beer Company is a step ahead of its competitors. In January, the company will be releasing its own Truly Iced Tea Hard Seltzer. Many investors believe this will see Twisted Tea stock continue its drastic rise.
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It’s becoming clear that the alcohol beverage industry received a major boost in 2020. But how long that will last is uncertain. You will want to keep a close eye on the now infamous Twisted Tea stock as we venture into a new year.