Celsius Holdings, Inc. (OTCMKTS:CELH) Wipes Last Green Session
After a 9% drop in yesterday’s session the stock of Celsius Holdings, Inc. (OTCMKTS:CELH) landed a notch below its position before last week’s spike. The stock briefly touched highs of over three dollars per share over the past couple of months, but last closed at $2.35 per share.
CELH is a manufacturer of soft drinks with a health and fitness focus. The eponymous Celsius drink is advertised and sold as a ‘zero calorie’ beverage, with the twist being that it does not burn calories by itself but instead promotes fat loss during exercise.
The latest report from CELH is a quarterly for the three months ended March. The brief rundown of the balance sheet is as follows:
- $232 thousand in cash
- $1.9 million in current liabilities
- $4.6 million in Q1 revenues
- $245 thousand in Q1 net profit
Those revenue figures may look over the top for a pink sheet business but CELH was formerly a NASDAQ-traded entity. A late 2010 issue with shareholder capital requirements of the exchange led to a voluntary delisting.
The reason the company climbed over $3 per share in the first place was the announcement of a $15.9 million investment led by a prominent Chinese venture capital firm and a couple of US media icons. The impact of the news may have run its course, though, judging by the difficulty CELH has clinging to its new highs.
CELH is currently flat, a fraction of a percent up in early trading.
