Celsius (NASDAQ: CELH) has been a juggernaut of the beverage industry, with its shares rising nearly 160% over the past two years. A large portion of that rally was driven by its rapid growth and its partnership with PepsiCo (NASDAQ: PEP), which invested $550 million in the energy drink maker and became its U.S. distributor in August 2022. PepsiCo's stock stayed nearly flat during the same period.

But over the past three months, Celsius' stock has plunged 37% as PepsiCo's stock dipped 4%. Let's see why the high-growth energy drink maker underperformed its top investor -- and if that trend will continue throughout the rest of the year.

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Source Fool.com