2023-03-18 09:45:00 ET
After nearly doubling in price over the last five years, shares of top energy drink company Monster Beverage (NASDAQ: MNST) are getting ready to split. Management announced a 2-for-1 stock split during the company's fourth-quarter 2022 earnings update. Shareholders as of March 13, 2023, will receive one additional share for every one share they own, and the stock price will be halved to reflect the doubling in share count. The distribution and halved stock price will take place after market close on March 27, 2023.
Some investors might be excited to see a stock split like this, and interest in investing in Monster could make a comeback. But is this top beverage stock a buy?
It might seem strange that after over a year-plus bear market, a company would announce a stock split. However, Monster shares have performed quite well in spite of high inflation, aggressive U.S. Federal Reserve interest rate hikes, and fretting over recession. Shares are up 34% in the last year and are near all-time highs.
For further details see:
Monster Beverage Stock Is Splitting -- Is It A Buy?