Celsius Holdings' stock surged after a $585 million deal with PepsiCo, expanding their partnership and increasing PepsiCo's stake to 11%, which includes distribution rights for Celsius and acquisition of the Rockstar Energy brand in North America. The deal strengthens Celsius's market position and is seen as a positive move for its growth prospects, with the stock reaching its highest level in 14 months amid a strong rebound in sales and earnings.
Celsius reported strong Q2 earnings with an 84% revenue increase driven by acquisitions and demand, leading to a 21% stock surge, while Peloton showed improved earnings but declining revenue, resulting in a 10% stock increase.
USFDA warns consumers to check their Celsius Astro Vibe Blue Razz energy drink cans for specific lot codes after a packaging error led to some cans being filled with vodka, prompting a recall of affected products shipped to several states, though no illnesses have been reported.
High Noon, owned by E&J Gallo Winery, recalled its Beach Variety 12-packs after some cans were mislabeled as Celsius energy drinks but actually contained vodka seltzer, posing a risk of unintentional alcohol ingestion. No illnesses have been reported, and the recall was due to a labeling error from the can supplier.
Alexander Mashinsky, founder and former CEO of Celsius Network, pled guilty to commodities and securities fraud, admitting to misleading customers about the company's profitability and manipulating the price of Celsius's proprietary token, CEL. Mashinsky's schemes involved using customer funds for risky investments and artificially inflating CEL's price, allowing him to profit while customers suffered losses when Celsius went bankrupt. He agreed to forfeit over $48 million and faces a potential 30-year prison sentence.
Alex Mashinsky, founder of Celsius Network, pleaded guilty to two fraud charges related to misleading customers and manipulating the price of Celsius' proprietary token, CEL. This plea is part of a broader investigation into fraudulent activities in the cryptocurrency sector following a market slump in 2022. Mashinsky faces a maximum sentence of 30 years and has agreed not to appeal any sentence of that length or less. Celsius, which filed for bankruptcy in 2022, has since exited bankruptcy and shifted its focus to Bitcoin mining.
Juan Soto teased fans with an Instagram video hinting at a major announcement, only to reveal a new sponsorship with Celsius, rather than news about his MLB future. While Soto has offers and is expected to decide by early December, he continues to playfully engage with the anticipation surrounding his free agency decision.
Juan Soto, the former Padres star and current Yankees outfielder, surprised fans by announcing a partnership with energy drink Celsius instead of revealing his next team contract. Despite the playful announcement, Soto is in high demand, with five MLB teams, including the Mets, Red Sox, Blue Jays, Dodgers, and Yankees, reportedly submitting offers. Soto, who had a stellar season and postseason with the Yankees, is expected to secure one of the largest contracts in baseball history.
Celsius (CELH) stock surged 14% after the company reported strong fourth-quarter results, with revenue up 95% year on year, driven by North American and international growth. The company's gross margin also improved significantly, contributing to an EBITDA beat, although its EPS narrowly missed expectations. The market's perception of the business has been significantly impacted by this news, with the stock being very volatile. Despite recent fluctuations, Celsius is up 36.9% since the beginning of the year.
A TikTok user, Alina, ended up in the hospital after consuming multiple bottles of Celsius energy drinks, prompting concerns about the health implications of the beverage. With a high caffeine content and warnings about potential liver and kidney issues if consumed excessively, Celsius has sparked debate on TikTok regarding its safety. This isn't the first time Celsius drinks have gone viral on the platform, with previous incidents including allegations of illicit substances in urine tests and color changes in the drink.
Wayfair, iRobot, Spirit Airlines, and Celsius are among the stocks making significant moves midday, with Wayfair and iRobot experiencing gains while Spirit Airlines and Celsius are seeing declines.
Crypto lender Celsius plans to transition to a new company focused solely on mining bitcoin, following feedback from the U.S. Securities and Exchange Commission (SEC) on its reorganization plan. The SEC's input led Celsius to retain certain assets for regulatory reasons, which will be administered and monetized by the Plan Administrator and/or Litigation Administrator for the benefit of creditors. Celsius intends to apply to register the shares in the new publicly traded Bitcoin mining company, referred to as "Mining NewCo," which will be owned by Celsius customers. The company expects to commence distributions to creditors in January 2024.
Jim Cramer, host of CNBC's "Mad Money," shared his thoughts on several stocks during his lightning round segment. He expressed support for New Fortress Energy and Celsius, stating that he believes Celsius is a buy. Cramer mentioned that he needs to do more research on NCR Atleos before making a recommendation. He also noted that, apart from Chubb, he generally does not recommend insurers, including Kinsale Capital Group.
Celsius Network and Core Scientific have reached a proposed settlement in their ongoing legal battle, with Celsius agreeing to purchase a $45 million Bitcoin mining data center from Core Scientific for $14 million in cash. The deal is subject to court approval. The conflict between the two firms began when Core Scientific accused Celsius of non-payment, while Celsius claimed that Core Scientific had not fulfilled their contractual obligations. Both companies had separately filed for bankruptcy protection. The Texas-based data center, capable of supplying 215 megawatts to BTC rigs, will likely be acquired by Celsius' mining arm if the settlement is approved. The litigation is separate from the criminal charges against former Celsius CEO Alex Mashinsky and former chief revenue officer Roni Cohen-Pavon.
Crypto mining providers Celsius and Core Scientific have reached a $45 million settlement to resolve their legal dispute. The deal, subject to court approval in Texas and New York, involves Celsius paying $14 million in cash and the rest in adjusted claims. Celsius will also acquire Cedarvale, an 85-acre Texas mining site. The settlement ends the costly litigation and potential contempt of court motions filed by Celsius. Creditors are currently voting on a sale to crypto consortium Fahrenheit Holdings.
