Last Week’s 10 Best-Performing Stocks

1. Celsius Holdings Inc. (NASDAQ:CELH)

Celsius soared by 21.6 percent week-on-week to end at $32.93 versus the $27.08 recorded a week prior, with investor sentiment primarily boosted by PepsiCo’s move to expand its healthy drinks category.

PepsiCo, which owns a significant stake in CELH, recently entered into an agreement to acquire prebiotic soda brand Poppi for $2 billion.

The news dribbled into CELH which produces a range of fitness and energy beverages under the brand Celsius.

“More than ever, consumers are looking for convenient and great-tasting options that fit their lifestyles and respond to their growing interest in health and wellness. Poppi is a great complement to our portfolio transformation efforts to meet these needs,” said PepsiCo Chairman and CEO Ramon Laguarta.

The transaction is subject to customary closing conditions, including regulatory approval. Additional terms of the acquisition were not disclosed.

The news followed recent leadership developments, following the appointment of Eric Hanson, PepsiCo’s senior vice president for strategic partnerships, as CELH’s president and COO.

While we acknowledge the potential of CELH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CELH but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.