Why Celsius Holdings Stock Popped This Week
Shares of Celsius Holdings (NASDAQ: CELH), the beaten-down maker of energy drinks, were moving higher this week, even though there was no company-specific news.Instead, Celsius stock seemed to respond positively to news that PepsiCo (NASDAQ: PEP), which owns a minority stake in Celsius, is buying Poppi, a maker of prebiotic sodas, for $1.95 billion, which includes $300 million of tax benefits. That news sparked a rally in beverage stocks, sending Celsius higher as it seemed to signal that big beverage companies were willing to open up their wallets to make acquisitions.Continue reading
Shares of Celsius Holdings (NASDAQ: CELH), the beaten-down maker of energy drinks, were moving higher this week, even though there was no company-specific news.
Instead, Celsius stock seemed to respond positively to news that PepsiCo (NASDAQ: PEP), which owns a minority stake in Celsius, is buying Poppi, a maker of prebiotic sodas, for $1.95 billion, which includes $300 million of tax benefits.
That news sparked a rally in beverage stocks, sending Celsius higher as it seemed to signal that big beverage companies were willing to open up their wallets to make acquisitions.
