The market is on fire early in 2023, but some stocks are cooling their heels. More than 300 companies with market caps north of $1 billion didn't participate in January's rally, and some of those laggards will surprise you.

Celsius Holdings (NASDAQ: CELH), Coca-Cola (NYSE: KO), and O'Reilly Automotive (NASDAQ: ORLY) are among the names trading lower this year. Let's see why they aren't partying like it's 2023 right now.

Even some of the fastest-growing businesses are proving mortal so far in 2023. Celsius is a distributor of functional energy drinks -- fruit-flavored sparkling water that also packs a proprietary blend of ingredients that it claims help improve near-term metabolism rates. Put another way, drinking a can of Celsius just before a workout is supposed to help people burn more calories.

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Source Fool.com