The Law Offices of Frank R. Cruz Announces Investigation of Celsius Holdings, Inc. (CELH) on Behalf of Investors

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

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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.

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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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