SodaStream shares surge after company launches home beer system
SodaStream International Ltd. shares surged 10.1% in Tuesday premarket trading after the sparkling water maker announced the release of a home beer system late Monday. The system will launch in Europe first, and is currently available on Germany's online store and at retailers in Switzerland. Other markets will launch in 2016 and 2017. The Beer Bar will allow users to make home-crafted beer "in seconds" using sparkling water and a beer concentrate. The beer system launched with a light beer, Blondie, that has 4.5% alcohol by volume, a level commonly found in other beer brands. SodaStream shares are down 7.9% for the past year, but up 19.7% for the year to date. The S&P 500 is up 2.7% for the year so far.
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