What's Going On With Celsius Holding's Stock Today?

Author: Aaron Bry | March 11, 2024 02:51pm

Celsius Holdings (NASDAQ:CELH) stock got crushed on Monday, trading down more than 6% at one point in the session. The sell-off came amid bullish analyst coverage from Stifel Financial Corp (NYSE:SF), which maintained its buy rating on Celsius with a price target raise from $90 to $95. 

Why Is Celsius Trading Lower? Celsius's stock traded lower Monday with many other momentum names that appear to be running out of steam. Celsius, the energy-drink maker challenging competitors like Red Bull and Monster Beverage Corp (NASDAQ:MNST), has been one of the hottest stocks on the market in 2024, trading up more than 40% YTD.

But, like other high-flying names such as Carvana Co (NYSE:CVNA) and Super Micro Computer Inc (NASDAQ:SMCI), Monday was a tough day for Celisus. "Momentum stocks", or companies whose stocks are trending higher, often tend to trade together.

The iShares MSCI USA Momentum Factor ETF (BATS:MTUM), an ETF that tracks a group of stocks that have positive momentum, traded down more than 1% Monday in another sign that the positive trend could be slowing down. 

Posted In: CELH CVNA MNST MTUM SF SMCI