Celsius Shares Plunge on Distribution Transition Concerns

Celsius Holdings, Inc. shares tumbled as much as 23% on concern near-term sales might be disrupted by a distribution channel change involving its newly acquired Alani Nu brand.

The stock posted its biggest intraday drop since March 2021 in New York trading. It had more than doubled this year through Nov. 5, outperforming the 3.7% increase in the S&P Midcap 400 Index.