CELH - Celsius Stock Plunges 16.8% in Terrible Week
2024-06-14 15:04:02 ET
Shares of energy drink company Celsius (NASDAQ: CELH) fell as much as 16.8% this week, according to data provided by S&P Global Market Intelligence , as industry data pointed to slowed growth for energy drinks. Shares are down 16.7% for the week at 2:30 p.m. ET.
To be clear, there aren't any earnings reports out yet, but investors are looking at market data from third-party analysts that indicate slowing growth for energy drinks. At an industry conference this week, CEO John Fieldly said he thinks the entire energy market would be in decline without Celsius.
What investors are struggling with is the right price to pay for Celsius stock. After this week's drop, shares are still trading for more than 10 times sales and 67 times earnings. That's an incredibly high price for a consumer stock, but Celsius has also been a growth engine that's earned a hefty multiple.
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Celsius Stock Plunges 16.8% in Terrible Week