Celsius Shares Sink Most in Two Years on Growth Concerns
- Morgan Stanley flags softer trends for energy-drink maker
- Stifel also sees headwinds from distributor PepsiCo’s changes
Celsius energy drinks.
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Celsius Holdings Inc. shares dropped by the most in more than two years after industry sales data signaled that the energy-drink maker’s revenue growth is cooling.
The stock tumbled 13% on Tuesday, wiping out roughly $2.9 billion of the company’s market value. Celsius’ year-over-year sales growth in tracked US channels slowed during the week ended May 18 compared to earlier in the month, according to Morgan Stanley analyst Eric Serotta, citing NielsenIQ data. He also said the company’s market share, excluding its powder products, slipped in recent weeks, and its percentage of sales on promotion increased.