Monster Beverage Stock Soars as Coca-Cola Opens Refreshing Partnership

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Monster Beverage Stock Soars as Coca-Cola Opens Refreshing Partnership

Monster Beverage Stock Soars as Coca-Cola Opens Refreshing Partnership
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Monster Beverage Stock Soars as Coca-Cola Opens Refreshing Partnership

by TheStreet 0:50 mins

Monster Beverage Stock Soars as Coca-Cola Opens Refreshing Partnership

by TheStreet 0:50 mins

Shares of Monster Beverage soared on Friday making it TheStreet's Move of the Day. The company known for its various energy drinks received a boost from investors after Coca-Cola announced it would purchase a 16.7 percent, or more than $2 billion dollar, stake in Monster to increase its exposure in the growing energy drink category. Coca-Cola said in a statement on Thursday evening: 'Importantly, the partnership strategically aligns both companies for the long-term by combining the strength of The Coca-Cola Company's worldwide bottling system with Monster's dedicated focus and expertise as a leading energy player globally.' TheStreet's Joseph Deaux reports from Wall Street.

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