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  "docSlug": "7928eb40991c",
  "documentTitle": "Monster Beverage Corp. (MNST)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-04-08 00:00:00",
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  "pageNumber": 22,
  "pageCount": 79,
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  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 6,
  "notes": "Uses photographic evidence to support the claim of aggressive private label pricing.",
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      "text": "7-11 Private Label",
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      "text": "Monster more promotional than Red Bull",
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      "kind": "callout",
      "text": "A picture is worth a thousand words to illustrate the competitive and promotional intensity currently in the energy drink market.",
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      "kind": "paragraph",
      "text": "A picture is worth a thousand words to illustrate the competitive and promotional intensity currently in the energy drink market. At a 7-Eleven, the largest convenience store chain with over 13,000 locations across the U.S., we see that Celsius is offered at 3 for $6 ($2/can) and GHOST at 2 for $5 ($2.50/can). Monster is running promotions across most of its brands with the cheapest being NOS at 2 for $4.50 ($2.25/can). Comparatively speaking, Red Bull displays only one promotion at 2 for $6. In August 2024, 7-Eleven announced it launched its own private label brand called Fusion. We found a shockingly low promotion of 2 cans for $3.79 or $1.90 per can being advertised at the entrance.(1)",
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      "text": "Source: Spruce Point research, 7-Eleven press release announcing energy drink launch, August 7, 2024",
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      "kind": "title",
      "text": "7-Eleven, The Largest Convenience Store Chain In America Just Launched A Low-Cost Private Label",
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      "evidence": "Repeated use of 'expose_contradiction' slides to highlight discrepancies in Monster Beverage's reporting and operations.",
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