INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Celsius Holdings, Inc. (CELH) on Behalf of Investors

Published a month ago via Business Wire

Law Offices of Howard G. Smith announces an investigation on behalf of Celsius Holdings, Inc. (“Celsius” or the “Company”) (NASDAQ: CELH) investors concerning the Company’s possible violations of federal securities laws.

On May 27, 2024, Morgan Stanley reported that weekly retail data showed Celsius with slowed sales growth and cautioned that the Company faced difficult sales comparisons over the next several quarters as it rolled over the anniversary of its Distribution Agreement with Pepsi. On this news, Celsius’ stock price fell $12.23, or 12.9%, to close at $82.92 per share on May 28, 2024, thereby injuring investors.

Then, on September 4, 2024, the Company disclosed during a conference that Celsius’ sales to Pepsi were reduced from “roughly around [$]100 million to [$]120 million . . . from what [Pepsi] ordered last quarter,” and that Celsius was “still seeing these inventory levels being reduced” and that it had “increased” in the third quarter of 2024. On this news, Celsius’ stock price fell $4.11, or 11.3%, to close at $32.39 per share on September 4, 2024.

Then, on November 6, 2024, Celsius released its third quarter 2024 financial results, revealing a 31% decline in revenue and a 37% decline of gross profit due to “promotional allowances, incentives, and other billbacks as a percentage of gross revenue” resulting from Pepsi’s drawdown. On this news, Celsius’ stock price fell $1.69, or 5.3%, to close at $30.04 per share on November 6, 2024, thereby injuring investors further.

If you purchased Celsius securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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