Monster Shares Rise as Goldman Downplays Regulatory Risk
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Monster Beverage Corp., the largest U.S. energy drink maker by sales volume, rose the most in more than a month after Goldman Sachs Group Inc. said a Food and Drug Administration response to questions over the safety of energy drinks was “encouraging.”
The shares surged 13 percent to $51.97 at the close in New York, for the biggest gain since Oct. 24. The stock was little changed this year through yesterday, after U.S. regulators confirmed reports last month that the Corona, California-based company’s caffeinated energy drinks were cited in the deaths of five people in the past year.