Shares of Monster Beverage (NASDAQ:MNST) gained 12% in June of 2018, according to data from S&P Global Market Intelligence. The surge rested on an impressive presentation at the energy-drink veteran's annual shareholder meeting.
At the meeting, Monster CEO Rodney Sacks said that the company's sales growth should float above the 10% mark throughout 2018. In addition, Monster is ready to fight rising ingredient costs by passing the expenses on to consumers in the form of higher prices per can of taurine-infused beverages.
Analysts followed up on these information nuggets with two distinct rounds of bullish research notes, driving share prices more than 5% higher on two consecutive days in early June.
The stock now is trading some 23% above the 52-week lows that were set in May, based on an uninspiring earnings performance. Analysts and investors have forgiven Monster for these stumbles and are looking forward to a healthier bottom line as those promised price increases come around in the second half of 2018. There's not much to complain about in this company's long-term growth trends.