Capitalizing on the rise of the number of cryptocurrencies that use the word coin, a snack food company is launching a limited-edition product that highlights this.
What Happened: Hostess Brands Inc (NASDAQ: TWNK) launched special-edition circular Twinkies called “$TWINKcoin.”
As reported by Decrypt, the new food concoction is limited-edition in nature and a new take on the 92-year-old brand.
The $TWINKcoin Twinkies are being sold on the Popwild website in boxes of 10 individually wrapped Twinkies for $3.50. Decrypt reported rumors of the item hitting Walmart (NYSE: NYSE:WMT) stores but was not able to verify or find them in local stores. Popwild's website says the new item is available through Aug. 8 with a limit of three per order online.
“Inspired by the recent headlines and discussion of cryptocurrency, we saw an opportunity to release a new take on fan-favorite Hostess Twinkies, to create the best investment consumers can make to satisfy their snacking needs,” a Hostess representative told Decrypt.
The representative said $TWINKcoin is a currency with stable value as “it’s always delicious.”
Related Link: How To Buy Cryptocurrencies
Why It’s Important: The launch of the limited-edition item could fare well for Hostess with the right ingredients present: limited run, hard to find and based on a trend people outside the brand might know.
One concern from Decrypt was using the word “twink” with the term having some different meanings outside of Twinkies.
No word on if we will get coin versions of other popular Hostess food brands like Ho Hos, Ding Dongs or Honey Buns, which could also make for some interesting coin names.
“With more than 12,000 cryptocurrencies from which to choose, $TWINKcoin is the best investment to satisfy your snacking needs,” a description of the food item reads.
Hostess Brands, which went public via SPAC merger in 2016, reported first-quarter revenue of $332.1 million, up 25.1% year-over-year.
“Our exceptional top-line and bottom-line growth in the first quarter highlighted our access to growing occasions, best-in-class business model, and accelerating innovation and marketing capabilities,” Hostess CEO Andy Callahan said.
TWNK Price Action: Hostess shares have traded between $15.10 and $24.27 over the last 52 weeks. Shares closed at $21.03 on Wednesday.
Photo: Hostess Brands
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