Watching Monster Beverage; RBC Out With Note Saying "We Have Just Confirmed Through Our Channel Work That Red Bull Will Be Taking A Price Increase In November. Mid-single Digits On 12oz Cans And High-single Digits On 8oz Cans. This Is Positive For Monster Who We Believe Will Follow In Increasing Prices"; Shares Spiking Higher
Portfolio Pulse from Happy Mohamed
RBC has confirmed that Red Bull will be increasing its prices in November. The price increase will be mid-single digits on 12oz cans and high-single digits on 8oz cans. This is expected to be positive for Monster Beverage Corporation (MNST) who is likely to follow suit in increasing prices.
August 07, 2023 | 5:07 pm
News sentiment analysis
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POSITIVE IMPACT
The price increase by Red Bull is expected to be positive for Monster Beverage Corporation as it is likely to follow suit. This could potentially increase the company's revenues and profitability.
The price increase by Red Bull, a direct competitor, provides an opportunity for Monster Beverage Corporation to also increase its prices without losing competitive edge. This could potentially increase the company's revenues and profitability, hence the positive impact on the stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80