Walmart Is Pushing The Singing Machine Stock Higher Today: What's Going On?

The Singing Machine Company Inc MICS shares are trading higher Tuesday after the company launched a new party accessory line available at Walmart.

What To Know: The Singing Machine said its new party accessory product line is now available in approximately 866 Walmart Inc WMT stores across the U.S.

The new product line is built around the company's Celebration Mic, which features a variety of pre-recorded songs, multi-colored LED lights and an integrated speaker to enhance the experience. The product comes with a suggested retail price of $9.97. 

"We are very pleased to expand our relationship with Walmart. As the largest U.S. retailer, and our largest single customer, Walmart is a critical part of our consumer electronics sales model," said Gary Atkinson, CEO of the Singing Machine.

The Singing Machine designs and distributes an assortment of at-home and in-car karaoke entertainment products.

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MICS Price Action: The Singing Machine shares were up 41.8% at $2.20 at the time of publication, according to Benzinga Pro.

Photo: Pexels from Pixabay.