In Monday's premarket, Coca-Cola shares rose 0.1%, with a major Newswire reporting that the corporation is acquiring complete ownership of sports drink maker BodyArmor.

According to the major Newswire, Coke is expected to spend $5.6 billion for the remaining 70% of the company. The company's founders and investors, including NBA's James Harden and MLB's Mike Trout, who helped popularise the drink, are among the sellers.Coca-Cola's supply chain under pressure due to shortage of cans | Coca-Cola  | The Guardian

As consumers seek healthier options, Coke is looking to expand its offering of non-aerated and low-calorie drinks. It's also a fresh attempt to break Pepsico's monopoly on the sports drink market. According to the major Newswire, Pepsico's Gatorade has a market share of over two-thirds in the United States, whereas Coke's own Powerade sports drinks have a market share of less than 15%.

Sports drinks, alkaline water, and caffeinated sports drinks are among BodyArmor's offerings. According to the newspaper, it hopes to earn $1.4 billion in retail sales this year, citing people familiar with the situation. When Coke first invested in the firm in 2018, sales were around $250 million.

PepsiCo's stock rose 0.2% as well.