The stock market closed higher on Tuesday, after inflation slowed down again in May. Investors became optimistic that the Federal Reserve could pause rate hike on Wednesday.
Overall, S&P 500 increased 0.7% to 4,369, while NASDAQ was up 0.8% to 13,573.
Tweet of the Day
EVERCORE: “A mountain of money” in money market accounts is “fuel for an equity momentum market move” — and could “accelerate the arrival of our year end S&P 500 Price Target of 4,450 to as early as July 4 ..” $SPX pic.twitter.com/ShIdmr0sxO
— Carl Quintanilla (@carlquintanilla) June 12, 2023
Chart of the Day
Here is the one-year chart of Celsius (CELH) as of June 8, 2023, when the stock was at $138.
Celsius has a proprietary calorie-burning formulation called MetaPlus, while being as natural as possible, without the artificial preservatives found in many energy drinks and sodas. Management claims drinking the product can help people lose weight.
Celsius is reaping the rewards from its distribution agreement deal with Pepsico. Last quarter’s profits came in at $0.40 per share and doubled the $0.20 analyst estimate. Revenue grew an incredible 95% last quarter, driven by North American revenue which increased 101%. Management attributes the growth to increased stock per location and expanded distribution in new channels.
CELH is a top-ranked stock in our Aggressive Growth Portfolio.
