Celsius Holdings, Inc. witnessed a remarkable 34.63% surge in its stock price during Thursday's trading session. This significant upswing can be attributed to two major catalysts:
Firstly, Celsius announced its acquisition of rival energy-drink maker Alani Nu for a staggering $1.8 billion. This strategic move aims to solidify Celsius' position as a prominent player in the rapidly expanding global energy drink market. According to reports, Alani Nu has been making substantial market share gains in the energy drink segment, complementing Celsius' own growth trajectory.
Secondly, Celsius reported impressive fourth-quarter results that surpassed analyst expectations. Despite experiencing a 4% year-over-year decline in revenue, the company recorded an adjusted earnings per share of $0.14, exceeding the consensus estimate of $0.12. This performance demonstrated Celsius' resilience and operational efficiency, bolstering investor confidence.
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