Celsius still hasn’t recovered from the 27% plunge it suffered on November 6th after publishing its Q3 earnings report. At $44 and cents, the energy drink maker’s stock is down by a third from this year’s high near $67 a share and by over 50% from its 2024 record. This dismal return occurred despite the fact that sales are on track to climb 80% in 2025 and expected to add another 33% next year.
The lesson is that you can pay too high a price even for a fast growing business and later regret it. But now that Celsius’ valuation has fallen to more reasonable levels, is this a buying opportunity? The Elliott Wave chart below seems to suggest so.
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It shows that the stock’s rise from $21.10 in February to $66.74 in October is a textbook five-wave impulse. We’ve marked the pattern (1)-(2)-(3)-(4)-(5), where two lower degrees of the trend are also visible within wave (3). This means that the Q3 sell-off is part of the natural three-wave correction, which follows every impulsive pattern.
So far, it looks like a single wave (a), indicating that waves (b) up and (c) down have yet to develop before the uptrend can resume. In the meantime, earnings per share are expected to triple in 2026. Assuming EPS keep growing healthily in the years ahead, Celsius in the mid-$30s in wave (c) would be a bargain worth picking up.
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