Celsius Holdings, a popular energy drink company, has seen its stock plunge more than 60% since May, currently trading at around $37 a share, down from its 52-week high of approximately $100. The company experienced a significant drop in its market capitalization from $22 billion to $7.5 billion over the past three months, marking its largest drawdown in 10 years. The decline was exacerbated by a poor presentation at the Barclays Conference, where management revealed that Pepsi would reduce its orders by $100-$120 million in Q3 due to more efficient inventory management. This announcement led to a 10% drop in Celsius's stock price, marking its worst day in a while. Analysts from Morgan Stanley and Bank of America have lowered their earnings estimates and price targets for the company, citing inventory drag, demand issues, and a margin hit.