Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Monster Beverage Corp (NASDAQ:MNST) shares haven't lost their fizz despite a decision Monday that opens the door to more competition for the brand.
What Happened
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The Coca-Cola Co (NYSE:KO) and Monster announced Monday that an arbitration tribunal of the American Arbitration Association deemed that Coca-Cola can sell its own energy drink, Coca-Cola Energy, without violating a contract it has with Monster.
Both companies consummated a strategic partnership agreement in 2015 that saw Coca-Cola take a 16.7% stake in Monster and transferred ownership of its worldwide energy business to Monster, while Monster transferred ownership of its non-energy business to Coca-Cola.
When Coca-Cola opted to sell its own energy drink, both companies submitted their dispute to the arbitration panel in October.
The panel ruled that Coca-Cola Energy products now fall within "an exception to a non-compete provision" relating to beverages marketed or positioned under the Coca-Cola brand.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
What's Next
The ruling gives Coca-Cola rights to continue to sell and distribute Coca-Cola Energy in new markets globally as well as in markets where it has been launched.
"While there was a disagreement between Coca-Cola and Monster over contractual language, the companies value their relationship and look forward to their continued partnership," the companies said in Monday's press release.
Price Action
Coca-Cola shares were up 0.77% at $51.30 at the time of publication Monday, while Monster shares were higher by 0.14% at $63.92.
Related Links:
Morgan Stanley's Beverage Pair Trade: Overweight Coca-Cola, Underweight Keurig Dr Pepper
Morgan Stanley Upgrades Coca-Cola, Sees More Growth Ahead
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.