Temperatures are heating up. Celsius Holdings (NASDAQ: CELH) is cooling down. Shares of the sparkling sports drink company have plummeted 54% since hitting an all-time high of $99.62 in March. It's a stark reversal in fortune for the once high-flying stock that was breathing new life into the functional beverage market with its scintillating top-line growth.

Celsius stock is still roughly where it was a year ago, more than doubling over the last three years. It's also a wealth-altering 25-bagger for anyone who owned it through the last five years. The starting lines are irrelevant beyond the taxable cost basis, though. Losing more than half of your money in four months in an otherwise bubbly market is enough to turn any stomach.

And it's not just stomachs that are turning. Tailwinds have turned to headwinds. Bulls have turned to bears. Let's take a closer look at how things fell apart for the Celsius story, but also why now could be a good time to approach the discarded beverage stock from a contrarian perspective.

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Source Fool.com