Smart for Life, Inc. (NASDAQ: SMFL) is engaged as a global holding company focused on development, marketing and distribution of nutritional products for the multi-billion dollar health and wellness industry. Shares of Smart for Life are surging 77% through early trading on Wednesday, May 17, 2023. Over the past three months, Smart for Life has seen an average daily volume of 232,050 shares. However, volume of 34.84 million shares or dollar volume of around $164.44 million, has already exchanged hands through early trading.
Shares of Smart for Life are soaring after the company announced a strategic collaboration with CloudKitchens to enhance the local delivery of their new range of healthy, protein-rich ice cream bars. The novel partnership is set to allow Smart for Life’s products to reach a wider consumer base through popular delivery platforms like UberEats (NYSE: UBER), GrubHub, and DoorDash (NYSE: DASH).
Initially, the company’s delivery services will target key markets in New York, Miami, and Los Angeles. CloudKitchens, a prominent player in the “ghost kitchens” industry, caters to restaurant delivery and pickup, making it a suitable partner for Smart for Life’s expansion strategy.
Smart for Life’s CEO, Darren Minton, expressed excitement at the prospect of accelerating the national launch of their unique, high-protein ice cream via CloudKitchens. Launched just a month prior, Minton believes the new product category holds significant growth potential. The partnership will grant SMFL access to CloudKitchens’ cutting-edge delivery hubs, order fulfillment services, and advanced sales and inventory software. This is a pioneering move in the frozen foods market, with the company’s protein ice cream bars offering high fiber, sustained energy, and an enjoyable taste.
The company’s innovative ice cream flavors, which include Vanilla-Chocolate, Cookies & Cream, and Strawberry, will initially be available to consumers in select markets and through their online platform.
Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/