Why Celsius Holdings Stock Got Hammered Today
Shares of fitness-focused energy-drink company Celsius Holdings (NASDAQ: CELH) were getting hammered on Thursday morning after the company announced final financial results for full-year 2020. Revenue in the fourth quarter fell from third-quarter revenue, likely stoking fears of slowing growth from investors. As of 11 a.m. EST, Celsius Holdings stock was down a whopping 29% and is now down almost 40% from highs reached earlier this year.
In Q4, Celsius Holdings generated revenue of about $35.7 million, resulting in full-year revenue of almost $131 million. This was good for 74% year-over-year revenue growth, which would typically result in resounding applause from Wall Street. However, Q4 growth slowed significantly, and even declined from Q3's $36.8 million.
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Source Fool.com