Why Celsius Stock Crashed to a 52-Week Low Today

Shares of energy drink company Celsius Holdings (NASDAQ: CELH) crashed on Wednesday after the company reported financial results for the third quarter of 2024. The results disappointed investors on both the top and bottom lines. As of 11:45 a.m. ET, Celsius stock was down 10% and had hit new 52-week lows.The headline numbers for Celsius were troubling. Q3 revenue was down 31% year over year to $266 million. And its net income dropped a staggering 92% to $6.4 million. There's no way to put a positive spin on these numbers, but they do have a reasonable explanation.Celsius moved its distribution to its partner, PepsiCo. Celsius was growing so fast at the time that Pepsi ordered more inventory than needed because it couldn't predict demand and wanted to keep products on shelves. Now, Pepsi is ordering less as it works through the inventory it already has on hand.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool