Shares of Celsius Holdings and Monster Beverage are both down in 2024
The competition between beverage names is a hot topic, and Jefferies chimed in today stating Red Bull’s new flavors are “gaining shares” from Celsius Holdings Inc (NASDAQ:CELH) and Monster Beverage Corp (NASDAQ:MNST). It’s also worth noting that shorts have been building their positions on both, and short interest represents a large 16% of Celsius stock’s available float, and 4% of Monster stock’s.
Celsius stock is underperforming on the charts, hitting a Sept. 6, 52-week low of $31.55. CELH’s 20-day moving average helped guide it lower since May, and this trendline now coincides with recent pressure at the $35 level. CELH was last seen down 1.4% at $34.33 today, adding to its 37% year-to-date deficit.
Monster Beverage stock has trended higher since its Aug. 8, 52-week low of $43.32, and was up 1.9% at $52.02 at last check. The equity is still down 9.7% in 2024, however, and could soon move back lower, as the $52 level where it resides rejected the shares in late July and early August.