Why Celsius Holdings Stock Rocketed Higher on Monday @themotleyfool #stocks $CELH $PEP

Celsius Holdings (CELH 12.72%) jumped out of the gate on Monday, surging as much as 18.6%. The stock was still up 16.2% as of 11:15 a.m. ET. The maker of fitness and energy drinks announced a strategic distribution agreement with PepsiCo (PEP 1.31%) As part of the partnership, Celsius will transition its existing U.S. distribution to Pepsi, which will become its preferred global distribution partner. The consumer staples giant will invest $550 million in Celsius, paying $75 per share for 7.33 million shares of convertible preferred stock. Celsius generated revenue of $314 million, up 140% year over year, after delivering 74% growth in 2020. . . .