CELH - Celsius Stock Drops 15.9% On Growth Concerns
2024-05-31 17:07:05 ET
Shares of Celsius (NASDAQ: CELH) dropped as much as 15.7% in trading this week after an analyst note questioned the company's short-term growth. According to data provided by S&P Global Market Intelligence , the stock closed the week down 13.9%.
Morgan Stanley analyst Eric Serotta sent out a note to clients early this week that caused the market sell-off. He said Celsius lost market share in the last few weeks, and revenue growth had slowed to 39% for the week of May 18, down from 50% growth two weeks earlier.
To say this is a short-term analysis is understating it. Any channel check is inherently short-term and only based on a few locations, so variability will be high in any results.
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Celsius Stock Drops 15.9% On Growth Concerns