Why Celsius Stock Suddenly Plunged Today
It started out as a calm morning for shares of Celsius Holdings (NASDAQ: CELH). But around noon, management made an appearance at ' 17th Annual Global Consumer Staples Conference. During the chat, management said something that sparked fear in investors: In the current quarter, sales to PepsiCo (NASDAQ: PEP) are down $100 million to $120 million compared to last year.
Investors took action, and that's why Celsius stock was down a painful 12% as of 3:15 p.m. ET.
Pepsi became the primary distribution partner for Celsius in August 2022. For Celsius, it now recognizes revenue when it delivers inventory to Pepsi. From there, Pepsi distributes it to retail channels where it's purchased by consumers. And for this reason, there's a different between when Celsius generates revenue and when its products actually sell in stores.
Source Fool.com
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