Why Celsius Holdings Stock Popped This Week
Shares of Celsius Holdings (NASDAQ: CELH), the beaten-down maker of energy drinks, were moving higher this week, even though there was no company-specific news.
Instead, Celsius stock seemed to respond positively to news that PepsiCo (NASDAQ: PEP), which owns a minority stake in Celsius, is buying Poppi, a maker of prebiotic sodas, for $1.95 billion, which includes $300 million of tax benefits.
That news sparked a rally in beverage stocks, sending Celsius higher as it seemed to signal that big beverage companies were willing to open up their wallets to make acquisitions.
Source Fool.com
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