Why Celsius Holdings Stock Soared Higher Today
Shares of energy drink company Celsius Holdings (NASDAQ: CELH) popped on Wednesday after the company reported financial results for the first quarter of 2022 that were ahead of analysts' expectations. The stock finished 15% higher for the session, even though the S&P 500 finished the day down 1.7%.
In Q1, Celsius generated revenue of $133 million, which was up a whopping 167% year over year. This outsized revenue growth is due to an ongoing reality for the company: It's continuing to find more and more stores that are willing to sell its fitness beverages. On top of this, health clubs where Celsius products are sold are increasingly open for business after shuttering during the earlier stages of the pandemic.
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Source Fool.com
