Here's Why Celsius Stock Surged 31% in May and Is Now at an All-Time High
Shares of energy-drink company Celsius Holdings (NASDAQ: CELH) surged 31.3% in May, according to data provided by S&P Global Market Intelligence, and have gone on to hit new all-time highs in June. After the shares gained over 2,800% in just the past five years, many investors are betting on a pullback in the stock price. But strong financial results and bullish commentary from the analyst community only keep sending this hot stock even higher.
Celsius stock has gone up so fast over the past several years that an increasing amount of people believe it's poised to soon drop. And to make money from a stock going down, you short it. In the case of Celsius, over 10.4 million shares were sold short as of May 15, according to data from . That's about 14% of shares outstanding, which is quite a lot.
While investors were betting on a drop for Celsius, it keeps going up with strong quarterly financial results. On May 9, the company reported on its first quarter, with record revenue of $260 million, up a staggering 95% year over year, blowing Wall Street's expectations out of the water.
Source Fool.com
