- Monster Beverage Corp. stock was down nearly 3.7% on Tuesday after a hedge fund issued a short report claiming the $55 billion energy drink maker was in jeopardy of being hip checked by rising brands like Celsius, Plezi, Zoa, and Joker. Those drinks emphasize wellness, hydration, and athleticism over extreme energy, and they have social media influencer backing to go with it, according to the short seller.
Hedge fund Spruce Point Capital Management is betting against $55 billion energy drink purveyor Monster Beverage Corp. and has issued a new short-seller report claiming sports drinks that focus on athleticism and hydration are scooping market share right out from under Monster. After Spruce Point published its short report on Tuesday urging a “strong sell” opinion on the beverage maker, the stock price tumbled more than 3% to $55.
