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.

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Source Fool.com