Celsius Holdings (CELS)

Is -12% this year. Some feel it had its day in the sun. The numbers haven't been good lately.

We still like CELH but the negative momentum is very concerning. It has now been nearly cut in half on 'slowing growth', but these are all opinions and the company has not indicated such, at least to any material degree. We would be reluctant to sell now after brokers downgrade after it has already fallen. This may be a case where fear is worse than reality, but the stock decline as noted is not encouraging and we would certainly be reluctant to add. 
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The broader energy drink market is seeing a slowdown and while Celsius is still growing the top and bottom lines in the 30% range, investors are worried about the slowdown in growth more broadly. A higher valuation also adds to volatility. Pepsi was also going through some inventory adjustments over the last few months that led to a bit of a speedbump for the company. The space in general is out of favour currently but we don't think the longer-term outlook and potential has changed a whole lot here. 
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Likes it. There was some probably with the Pepsi distribution, which still doesn't make sense to him. A good hold.