Why Celsius Holdings Stock Hit a New Record High This Week
Shares of energy-drink maker Celsius Holdings (NASDAQ: CELH) are spiking nearly 30% this week, according to data provided by S&P Global Market Intelligence. The massive move brought the stock to an all-time high.
Record first-quarter revenue nearly doubled versus the prior-year period. The results seem to verify that a distribution partnership with PepsiCo, which was announced last year, is paying dividends. Management attributed improved brand awareness and product availability to that new agreement with the snack and drink maker.
Approximately 95% of Celsius' sales come from North America. CEO John Fieldly said the United States is the key growth driver for the company, noting that Celsius is now the "established #3 Energy Drink Brand in the category." He added that market share has doubled from a year ago to about 7.5%.
Source Fool.com
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