CELH - 2 Reasons Why Celsius Stock Didn't Rally Right Away on Thursday
2024-02-29 11:45:00 ET
Sizing up Celsius Holdings ' (NASDAQ: CELH) performance in the fourth quarter seems to check off all the boxes on the checklist for a blowout financial update. The functional sparkling beverage specialist exceeded top-line expectations and has now posted three consecutive years of triple-digit growth.
Celsius also exceeded earnings estimates. It was rosy in its presentation and pumped about its future. With short interest at a record high earlier this month, it could've been the perfect recipe for a short squeeze. The rally didn't happen right away, though.
Celsius stock opened slightly lower on Thursday following the report and subsequent analyst call but, within minutes, shifted out of reverse. The stock was trading more than 10% higher 45 minutes into the trading day. But let's go over a couple of things that may have initially tripped up investors despite a seemingly solid update.
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2 Reasons Why Celsius Stock Didn't Rally Right Away on Thursday