If there was a stock cruising for a bruising in light of the UK's surprising referendum vote to leave the EU it should have been SodaStream (NASDAQ:SODA). The company behind the namesake maker of carbonated beverages relies on the EU for the majority of its sales. Western Europe accounted for nearly two thirds of SodaStream's revenue in its latest quarter.

The stock did take a hit along with the general Brexit-fueled market swoon, tumbling 4.6% on Friday. It fell another 4% on Monday, slipping to close below $20 for the first time since late May. However, SodaStream's dip into the teens was short lived. SodaStream stock made most of its losses back with Tuesday's 6% pop.

Making soft drinks or sparkling water at home may be a recent novelty in the US, but the SodaStream brand has been a fixture overseas for decades. If you've never seen one of the original "get busy with the fizzy" ads that aired in the UK, now may be as good a time as any to check it out.


Making the fizz last longer this time

SodaStream stock was trading in the teens since July 7 of last year, finally closing above $20 late last month. It was able to stay above the mark until Monday's dip. The challenge now is to stay north of $20 from here on out.

The stock's rally was triggered largely by a blowout quarterly report in May. SodaStream surprised the market with 10% year-over-year revenue growth, the first break that investors received after five straight quarters of year-over-year declines, according to S&P Global Market Intelligence data. The Israeli-based company's profit also blew through Wall Street's profit targets. 

The growth was the handiwork of a 15% spike in Western Europe. It was also impressive to see SodaStream's three product categories -- beverage makers, CO2 refills, and flavors -- all move higher for the period. It was only its CO2 refills that were moving higher during the financial lull.

It's not the only thing that's been providing some buzz at SodaStream. It's entering into the home-brewed beer niche with Beer Bar, a flavor platform that turns sparkling water into craft beer.

Analysts see year-over-year growth in the single digits through the next three quarters. It will be interesting to see how Brexit weighs on those projections. The actual UK departure from the EU may be a couple of years away, but the currency fluctuations have already started. 

SodaStream is having a good year. After back-to-back years of double-digit declines it's a move that's long overdue for investors. SodaStream will have to prove that it can avoid getting flat again in light of the Brexit hassle, but that's no easy feat in all of the recent and upcoming volatility.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.