Reed's (REED) is a micro-cap maker of craft sodas, primarily their namesake Reed's Ginger Beer, as well as Virgil's Root Beer.
The company has struggled recently, as an attempt to switch from an asset heavy model (owning their own factory) to an asset light model (using co-packers) was mishandled by the previous management, leading to serious supply chain issues that left them unable to meet demand. This was particularly bad because it resulted in wasteful marketing spending, which only served to create demand that could not be fulfilled.
Operating losses have increased significantly,