Why Celsius Holdings Stock Surged 56% in December
Shares of Celsius Holdings (NASDAQ: CELH) were up 56% in December, according to data provided by S&P Global Market Intelligence. The beverage company's stock was up over 900% in 2020 and over 60% in November alone, so it's no secret it had upward momentum going into December.
In the last two days of December, Celsius Holdings surged almost 28%. This is because news broke that Celsius stock was being added to the S&P SmallCap 600 Index. It was announced on Dec. 30 and confirmed on Jan. 6 by Celsius. While being added to an index like this doesn't fundamentally improve its business, it does give the stock greater visibility. Furthermore, index funds tracking the performance of the S&P SmallCap 600 have to purchase shares of Celsius, bringing a wave of new buyers into the mix.
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Source Fool.com
