Insider Sells Nearly $76 Million In Stock At This Energy Drink Company: What's Going On With Celsius Holdings?
Portfolio Pulse from Aaron Bry
William H. Milmoe, co-chair and shareholder of Celsius Holdings, Inc. (NASDAQ:CELH), sold over $76 million worth of company stock ahead of its earnings report. The sales occurred from May 2 to May 6, with Milmoe offloading 214,287 shares each day at an average price of $59.66 per share. The transactions were disclosed in a Form 4 filing with the SEC. Milmoe still retains a significant stake in Celsius through CD Financial LLC and as a trustee of the Carl DeSantis Revocable Trust. The reason for the sale was not disclosed.
May 07, 2024 | 7:44 pm
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William H. Milmoe, a key insider of Celsius Holdings, sold over $76 million worth of CELH stock. This significant insider sale occurred right before the company's earnings report.
Insider sales, especially of this magnitude, can lead to negative investor sentiment as they may be perceived as a lack of confidence by insiders in the company's future prospects. Given the timing before an earnings report, this could further amplify concerns among investors, potentially impacting the stock's short-term price negatively.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90