Revenue Surge Draws Call Traders to Celsius Stock

CELH is on track for a fifth-straight win today thanks to a short squeeze

Digital Content Manager
Nov 7, 2023 at 11:04 AM
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Celsius Holdings, Inc. (NASDAQ:CELH) stock is up 1.3% to trade at $177.82 at last check, and earlier traded as high as $188.98. The energy drink company reported third-quarter revenue that jumped 104% year-over-year to $384.8 million, easily surpassing analysts' expectations. Growth in the North American market drove the lofty revenue increase.

The shares are today pacing for their fifth-straight win, while trading at their highest level since late September. Year-over-year, CELH is up more than 108%, but the stock still has a ways to go to return to its Sept. 8 record high levels of $206.85. 

Drilling down to today's options activity, 20,000 calls and 9,425 puts have already crossed the tape, volume that is 13 times the intraday average amount. Most popular is the 11/10 200-strike call.

Short sellers are hitting the exits, with short interest down 6% over the last two reporting periods. The 10.50 million shares sold short make up a whopping 23.6% of the security's available float, however, indicating there is plenty of pessimism left to unwind. This could send shares higher still.

 

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