CELH - Celsius: The Market Proved Me To Be So Wrong (Rating Upgrade)
2024-05-05 08:30:00 ET
Summary
- Celsius stock experienced a steep pullback and fell into a bear market in April.
- I turned bearish on CELH, but my rating was poorly-timed. I should have heeded my instincts against an incredibly strong stock.
- Celsius faces significant risks related to its ability to replicate market share gains in global markets.
- Investors must still consider CELH's expensive valuation, notwithstanding its high-growth story.
- I explain why I've decided to upgrade CELH, as my bearish thesis is increasingly unsustainable.
I Was Wrong About Celsius Stock
In my previous CELH stock update in February 2024, I anticipated that Celsius Holdings, Inc. ( CELH ) could suffer a steep pullback. As a result, I decided to downgrade CELH to a bearish rating, assessing unsustainable optimism. However, CELH buyers have continued to push back against my Sell rating, lifting CEH stock to its mid-March 2024 highs before the steep pullback arrived....
Celsius: The Market Proved Me To Be So Wrong (Rating Upgrade)