Splash Beverage shares surge 20.59% intraday after joint venture to enter hemp-THC drinks market.

Splash Beverage surged 20.59% intraday after announcing a joint venture with BAAD Ventures to enter the hemp-THC drinks market. The partnership grants Splash a 51% stake in the venture, combining its distribution and innovation expertise with BAAD’s Nimbus brand, a 10mg hemp-derived THC seltzer showing strong early retail performance. The move positions the company to capitalize on the rapidly expanding THC beverage segment, with plans for multi-state expansion and a vertically integrated platform to enhance supply-chain efficiency. Despite recent federal restrictions on hemp-derived THC products, Nimbus’s compliance with current legal thresholds (under 0.4mg THC per container) and its market success underscore the venture’s growth potential. The collaboration aligns with Splash’s strategy to leverage high-demand cannabis-infused beverage trends, driving immediate investor optimism.