Splash Beverage shares surge 10.33% intraday after joint venture to enter hemp-THC drinks market with Nimbus brand.

Splash Beverage surged 10.33% intraday after announcing a 51%-owned joint venture with BAAD Ventures to enter the hemp-THC beverage market, leveraging BAAD’s Nimbus brand—a 10mg hemp-derived THC seltzer with strong retail performance. The partnership aims to expand Nimbus into six new U.S. states and build a vertically integrated platform, combining Splash’s distribution expertise with BAAD’s production capabilities. Despite premarket volatility (a 12.7% drop) and regulatory headwinds from a federal bill limiting THC content, the intraday rally reflected optimism over the venture’s growth potential in a rapidly expanding sector. The move aligns with Splash’s strategy to scale innovative beverage categories, though financial challenges like a $6.41 million debt burden and leadership changes remain.