CELH - Why Celsius Holdings Stock Pulled Back Today
2024-05-07 12:58:21 ET
Shares of Celsius Holdings (NASDAQ: CELH) were moving lower today after the fast-growing energy drink company missed estimates on the top line in its first-quarter earnings report but beat profit expectations.
Investors didn't quite seem to know how to react to the report as the revenue growth figure was distorted by an inventory adjustment from PepsiCo , its key distribution partner. The stock fell sharply in pre-market trading after the results came out but then recouped most of those losses.
As of 11:32 a.m, ET, Celsius was down 3.5% after trading as far down as 10.1% in the regular session.
For further details see:
Why Celsius Holdings Stock Pulled Back Today