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  "documentTitle": "Monster Beverage Corp. (MNST)",
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  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-04-08 00:00:00",
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  "notes": "The slide uses a CEO quote to frame the promotional activity as a competitive threat.",
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      "kind": "callout",
      "text": "Circle K, a national convenience chain, recently launched a promotion at over 6,000 locations across the U.S. for CELSIUS ESSENTIALS Sparkling Watermelon.",
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      "text": "Ghost Energy Instagram post",
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      "text": "Circle K, a national convenience chain, recently launched a promotion at over 6,000 locations across the U.S. for CELSIUS ESSENTIALS Sparkling Watermelon. Starting on February 10, 2025, Circle K is giving customers the chance to try the new flavor for free just by downloading the Circle K app and taking a short quiz. In March, Circle K launched an exclusive flavor and promotion with GHOST Energy. The CEO of Circle K's parent, Alimentation Couche-Tard, even referenced the promotions on their recent conference call.",
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      "kind": "quote",
      "text": "In our goal of owning thirst, we are excited about our many exclusive product launches in the US, including Celsius Watermelon Ice during the quarter and our first GHOST brand exclusive this month.",
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      "text": "In our goal of owning thirst, we are excited about our many exclusive product launches in the US, including Celsius Watermelon Ice during the quarter and our first GHOST brand exclusive this month. — CEO of Alimentation Couche-Tard",
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      "text": "Source: Circle K press release (Celsius) and Instagram (GHOST)",
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      "kind": "title",
      "text": "Hard To Compete With Free.... Circle K Launches Two Energy Drink Promos",
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