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What's Going On With Celsius Holdings Stock Wednesday?
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What's Going On With Celsius Holdings Stock Wednesday?
May 29, 2024 6:17 AM

Celsius Holdings Inc ( CELH ) shares are trading lower Wednesday. BofA adjusted its price target on the stock a day after Celsius shares tumbled on weak Nielsen data.

What Happened: Celsius shares closed Tuesday down 12.8% following reports that new Nielsen data shows the company’s sales growth and market share declined in recent weeks.

Morgan Stanley analyst Dara Mohsenian reportedly said the data showed that Celsius' sales growth slowed to 39% for the week ended May 18. The analyst further suggested that Celsius' market share declined from 10.8% to 10.5% in the most recent week of data, while Celsius' pricing was down 7.2% on a year-over-year basis.

Morgan Stanley cautions that tough sales comparisons over the coming quarters could lead to a change in sentiment in Celsius Holdings ( CELH ) stock. Despite the near-term uncertainty, the firm continues to see a strong longer-term runway for Celsius in the U.S. as it continues to add products in stores, improve product placement and push for growth in other areas.

On Wednesday, BofA Securities analyst Jonathan Keypour maintained Celsius Holdings ( CELH ) with a Neutral rating and raised the price target from $80 to $84.

Check This Out: ConocoPhillips Acquires Marathon Oil In All-Stock Deal At 14.7% Premium: Details

How To Buy CELH Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Celsius' case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

CELH Price Action: Celsius shares were down 1.53% at $81.65 at the time of writing Wednesday morning, according to Benzinga Pro.

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