By Connor Hart
Shares of LQR House tumbled after the company disclosed that Canadian tequila distributor Of The Earth Distribution placed an order for 168 cases of SWOL Tequila.
The stock sank 74%, to 58 cents, in afternoon trading Friday. Shares are down 57% in the past year.
The niche e-commerce platform, which specializes in the spirits and beverage industry, said that more than half of its initial inventory of SWOL Tequila has now sold. Its remaining cases are expected to sell out before the new order arrives in Ontario.
The recent order marks what the company called its second major purchase order.
Moving forward, it sees a strategic opportunity to ship SWOL Tequila directly to Canada from Mexico, due to tariffs and ongoing uncertainty surrounding U.S.-made alcohol sales in Canada.
As a result, the company said it believes it is well-positioned to gain traction in the Canadian market.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 21, 2025 13:54 ET (17:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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