Rockstar Founder Rocks Celsius With $300 Million Activist Bet, Demands CEO Ouster

Celsius Holdings Inc. 7% activist stake. Savage told CNBC he controls over 12 million in company stock, worth approximately $300 million at current market levels. Executive Ouster Demanded Savage, who founded Rockstar in 2001 and sold it to PepsiCo Inc.

in 2020 for over $4 billion, urged leadership changes following the second-quarter earnings report. "The CEO, the COO, the brand manager and the marketing manager all need to be fired," Savage told CNBC. Read Also: Trump Says Data Centers Could Be Bigger Than Oil, Urges States to Cut Taxes and Accelerate AI Growth: 'If I Were Governor…' Celsius Company Statement Celsius addressed Savage’s comments in an official statement Friday. "We welcome ideas that are potentially value-creating from all Celsius Holdings shareholders," a company spokesperson said in a statement.

"We remain focused on executing our total energy portfolio strategy to drive durable, long-term growth. " Analyst Price Forecasts Wall Street analysts adjusted their price forecast for the stock on Friday, with Piper Sandler maintaining an Overweight rating while lowering its price forecast to $36 and Needham maintaining a Buy rating while reducing its price forecast to $35. 027 million estimate. Adjusted diluted EPS fell to 36 cents, missing the 42-cent forecast.

51 following the results. 55 at the time of publication on Friday, according to Pro data. Photo via Shutterstock Read Also: Terrible Jobs Report Sparks Rally In AI and Tech: 10 Stocks Leading Friday's Surge