CELH - Why Celsius Holdings Stock Crashed 10% on Monday
2024-07-15 13:02:18 ET
Earnings season is upon us, and up on Wall Street analysts are placing their bets for who will beat -- and who will disappoint investors this quarter. That's apparently bad news for investors in Celsius Holdings (NASDAQ: CELH) . This morning, TD Cowen analyst Robert Moskow warned investors to lower their expectations for the energy drink maker, and cut his price target by 20%, to $68 a share.
Celsius stock is down 10.7% in response as of noon ET.
What's the matter with Celsius, the business? Nothing really, according to Cowen. Rather, the problem is with investors who've gotten too excited over Celsius' prospects in an economy that's seeing more cautious consumer spending . As the analyst reminds, Pepsico just finished reporting disappointing second-quarter earnings , in which the only sales growth came from price increases, and sales volumes grew not at all.
For further details see:
Why Celsius Holdings Stock Crashed 10% on Monday