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SodaStream shares pop after Keurig Kold gets permanently iced

Employees pack boxes of SodaStreams at the factory in the West Bank Jewish settlement of Maale Adumim.
Ammar Awad | Reuters

Shares of SodaStream gained Tuesday after Keurig Green Mountain said it was discontinuing its Kold product line.

SodaStream shares gained about 3 percent midday before losing altitude. The stock ended the day little changed.

Keurig's Kold system was a direct competitor of SodaStream in the home soda-making appliance market. A spokeswoman for Keurig told CNBC that it will be "offering consumers a refund for the full purchase price of their KOLD drinkmakers."

The machine hit the market in September and retailed for about $369.99, a price tag that analysts and consumers balked at.

The company also said it laid off 130 employees Tuesday, 108 of whom were in Vermont. Keurig said that the "majority of those impacted were employees on our KOLD pod manufacturing and related support team whose roles were impacted by our decision to discontinue our first generation Keurig KOLD system."

Keurig added that those employees will receive severance benefits and will be encouraged to apply to other openings within the company.

Keurig went private after being acquired by JAB Holding in December. The deal was closed in March.

SodaStream shares are up more than 49 percent in the last three months.

— CNBC's Ryan Ruggiero contributed to this report.