Solo Brands Shares Are Heating Up: What's Going On?

Solo Brands Inc DTC shares are moving higher Monday. The stock appears to be getting a boost after the company signed Snoop Dogg as a spokesperson.

What Happened: Last week, rapper and well-known cannabis advocate Snoop Dogg took to X to announce that he was "giving up smoke."

The announcement is now being linked to a new advertisement for smokeless fire pit brand Solo Stove. In a press release on Monday, the company said it was behind Snoop Dogg's announcement.

"Today, Snoop Dogg offered greater clarification that his earlier comment was in regards to his love for sitting by a fire pit without 'coughing and his clothes smelling all sticky icky,'" the company said.

"Solo Stove has since announced that Snoop Dogg will be their official 'smokesman,' in support of the company's quest to eliminate smoke from backyards everywhere."

Solo Stove said Snoop Dogg will partner with the company on smokeless product innovation and help design a new signature line of Solo Stove products. The first product is a limited edition bundle that includes a fire pit designed by Snoop Dogg, a stand, a bucket hat and a "Snoop x Solo" sticker pack, priced at $349.99. The bundle went on sale Monday morning.

Check This Out: Was Snoop Dogg's 'Giving Up Smoke' Announcement A Publicity Stunt? New Ad Casts Doubt

DTC Price Action: Solo Brands shares were up 10.2% at $5.13 at the time of publication, according to Benzinga Pro.

Photo: Alexa from Pixabay.