CELH - Can Celsius Stock Bounce Back From Last Month's 29% Drop?
2024-07-01 11:55:00 ET
June was cruel for Celsius Holdings (NASDAQ: CELH) investors. Shares of the functional energy drink specialist fell nearly 30% last month, and have plummeted 40% since third-party reports began detailing softening sales trends in late May.
Long-term shareholders are still faring well. Celsius stock is a 38-bagger over the last five years. Despite the June swoon, the shares are still trading marginally higher in 2024. However, sentiment has soured in recent weeks. At least seven analysts lowered their price targets last month, and one of them -- Mark Astrachan at Stifel -- whittled away his firm's price goal on the shares twice in June, just two weeks apart.
Celsius makes sparkling fruit-flavored beverages that help speed up a body's metabolism to burn calories and fat when paired up with cardiac or fitness activity. Has the functional beverage company finally gone flat? What must Celsius do to win back the market's bullish attention? Let's take a closer look at why Wall Street has turned on the one-time rock star, and what it can do to get investors back on its side.
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Can Celsius Stock Bounce Back From Last Month's 29% Drop?