Why Celsius Holdings Stock Rocketed Higher on Monday
Shares of Celsius Holdings (NASDAQ: CELH) jumped out of the gate on Monday, surging as much as 18.6%. As of 11:15 a.m. ET, the stock was still up 16.2%.
The catalyst that sent the maker of fitness and energy drinks higher was a major investment and strategic partnership with PepsiCo (NASDAQ: PEP).
Celsius and Pepsi announced a strategic distribution agreement in a press release on Monday. As part of the partnership, Celsius will transition its existing U.S. distribution to Pepsi, which will become its preferred global distribution partner.
Source Fool.com
