After Snoop Dogg posted a reel this morning announcing his collaboration with Solo Stove, Canaccord said the brand awareness gained from this marketing strategy is “far more important than the sales generated from these limited edition items.” Solo Brands again prioritized profit over sales “with dry powder available for holiday season marketing,” added the analyst, who believe this Snoop Dogg collaboration bodes well for web traffic growth in Q4 and beyond. The firm has a Buy rating and $9 price target on Solo Brands shares.
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