Why the Digital Wine (ASX:DW8) share price is up an astonishing 18%

The Digital Wine Ventures Ltd (ASX: DW8) share price hit a 5-year high of 9.5 cents in morning trade. At the time of writing, shares in the online beverage distributor are selling at 9.1 cents, up 18% on yesterday’s close. This rise occurred after the company announced massive increases on one of its sales platforms.

In comparison, the S&P/ASX All Ordinaries Index is up only 0.7% in morning trade.

Let’s take a closer look at what’s sent the Digital Wine share price soaring today.

What did Digital Wine announce today?

In a statement to the ASX, Digital Wine announced a monumental 931% year-on-year rise in the number of wine cases…